Chad A. Fett, CTFA, CFP® // President – Trust

Chad started his career with First State Bank and Trust in 1987 as a part-time teller and joined the Trust Department in 2001. He has held various positions throughout the organization over the years and is currently the President of the Trust Department. Chad graduated from Concordia University with a degree in Business Management and is a Certified Financial Planner® and a Certified Trust and Fiduciary Advisor. He serves on the Board of the Family Resource Center of the St. Croix Valley.

A lifelong resident of Hudson, he and his wife, Heidi, reside there with their three daughters. When not at the office, Chad enjoys spending time with his family and friends.

Phone: 651.351.3761

Kathleen M. Elbert, CTFA, CFP®, AIF® // Senior Vice President – Trust

Kathy has been with the Trust Department of First State Bank and Trust since 1998, and has over thirty years of experience. She enjoys working on all aspects of the client relationship, including trust administration, investments and tax planning, and has been known to embrace change for the opportunities they present.

Kathy is a graduate of the University of Minnesota with a Bachelor of Applied Science Degree (B.A.Sc) in Mathematics.

Her professional designations include Accredited Asset Management Specialist (AAMS®) issued by the College for Financial Planning, Accredited Tax Preparer (ATP®) from the Accreditation Council for Accountancy and Taxation, Certified Financial Planner (CFP®) issued by the Certified Financial Planner Board of Standards, Inc., Certified Trust and Fiduciary Advisor (CTFA) issued by the ABA Institute of Certified Bankers, and Accredited Fiduciary Investment Manager (AFIM®) and the Accredited Investment Fiduciary (AIF®) issued by the Center for Fiduciary Standards.

Kathy is an active member of the Stillwater Noon Rotary. She lives near Hudson, WI with her husband and has two grown children.

Phone: 651.351.3762

Robert M. Gray, CTFA, CRPC® // Senior Vice President – Trust 

Bob has been with the Trust Department since 2010, and has over thirty years of financial services experience. He is a graduate of the University of Iowa and holds the professional designations of Certified Trust and Fiduciary Advisor (CTFA) and Chartered Retirement Planning Counselor (CRPC®).

Bob is an active participant and supporter of St. Croix area community, philanthropic and professional organizations. He is the Past President of the Stillwater Sunrise Rotary Club, Board Member of the Stillwater Area Community Foundation, Inaugural President of the Ponies Touchdown Club, Past President of the St. Croix Valley Athletic Association, participates in the STRIVE mentorship program, serves on several community and school district committees, and has been a volunteer coach for numerous youth football, baseball, and basketball teams.

Bob is an active skier, outdoor enthusiast, and loves to travel. He resides in Stillwater with his wife Kelly, and they have two grown sons.

Phone: 715.716.5932

Alex R. Zeien, CTFA, CFS®, AIFM® // Senior Vice President - Trust

Alex graduated senior merit honors from the University of Wisconsin - River Falls with a Bachelor of Science in Business Administration-Management Emphasis, and a Bachelor of Science in Economics. He joined First State Bank and Trust in 2013 as a teller and was promoted to the Trust Services Department in 2016. Alex continues to further his education and has received the designations of Certified Trust and Fiduciary Advisor (CTFA), Certified Fund Specialist (CFS®), and Accredited Investment Fiduciary Management (AIFM®). He is currently a Senior Vice President for the Trust Department where he provides administration on a number of accounts and is an active member of the department’s Investment Committee team.
Alex lives in Hudson and serves on the board of local foundations. When not in the office, Alex enjoys spending time with family and friends and kayaking on nearby lakes and rivers.
Phone: 715.716.5930

Pamela A. Baker, CTFA, CPA // Vice President – Trust 

Pam began her career in public accounting working with individuals, businesses, trusts, and estates. She transitioned into trust administration in 2007. Pam joined the Trust Department of First State Bank and Trust in 2015. With over 30 years of experience in financial services, Pam enjoys the relationships that are created with the clients in the trust department and focuses her time on the administration of estates and trusts, portfolio management, and financial and estate planning.

Pam received her Bachelor of Science degree in Accounting from the University of Wisconsin-River Falls. She holds the professional designations of Certified Trust and Fiduciary Advisor (CTFA) and Certified Public Account (CPA).

Pam lives in Lake Elmo with her husband and has two grown children. They are active members of the community and in their leisure time, enjoy traveling and time spent on Lake Elmo lake. Pam is an active member of the Lake Elmo Rotary Club where she has held many board positions including president. She is also involved with many organizations that help families deal with the effects of Alzheimer’s.

Phone: 651.351.3765

Katie A. Kranz, J.D., AEP®, CTFA // Vice President - Trust

Katie received her Juris Doctor degree from the University of St. Thomas School of Law in 2010 and her accreditation in estate planning (AEP®) in September of 2019. She worked as a trust and estates attorney for 8 years prior to joining the Trust Department in January 2020. As an attorney, Katie guided clients through the estate planning process and created documents that helped them preserve their assets and protect their families. As a Trust Officer, she assists clients with financial planning, portfolio management, investment analysis, estate planning, and trust administration.

Katie lives in Stillwater, MN with her husband and three children. She currently serves as the Chair of the Hudson Hospital Foundation Board and serves on the Hudson Chamber Foundation Board. She is also a member of the National Association of Estate Planners and Councils as well as the local Twin Cities chapter. She enjoys spending time with her family and watching the Minnesota Twins.

Phone: 651.351.3739

Nichole A. Cherrier, CTFA // Vice President - Trust

Nichole joined the Trust Services Department in 2017. She has a degree in Contemporary Business and holds a Certified Trust and Fiduciary Advisor (CTFA) designation. She enjoys fostering relationships with her clients as she assists them with financial planning, estate planning, and trust administration. She is a board member of the Hudson Hospital Foundation.

Nichole grew up in Stillwater and currently lives in New Richmond with her husband Aric and their dogs. In her free time, she enjoys spending time with their five children, crafting, and gardening.

Phone: 715.716.5931

Charley W. Clements, CTFA // Vice President - Trust

Charley is a graduate of the University of Minnesota – Twin Cities, where he studied Economics and Management. While in college, Charley spent two summers as an intern in the Trust Department at First State Bank and Trust. Since graduating, he has worked in the brokerage and fiduciary areas of the financial services industry and joined First State Bank and Trust as a Trust Officer in 2021. In addition to helping clients, Charley continues to grow his skillset and has earned the designation of Certified Trust and Fiduciary Advisor (CTFA).

Charley grew up in Bayport, MN and currently lives in Mahtomedi, MN. In his free time, he enjoys golf, music, running and biking. Charley is also a fan of the Minnesota Golden Gophers.

Phone: 651.351.3759

Karyn A. Kollitz, CPA, CDFA // Vice President - Trust

Karyn graduated from St. Olaf College in 1990 with a Bachelor of Science in Nursing. After working in health care for 5 years, she joined her father’s firm and has been a trusted CPA in the St. Croix Valley for over 20 years. She comes to the Trust Department with a wealth of knowledge in the tax preparation and tax planning realm. Karyn enjoys helping clients navigate the complex world of taxes and is looking forward to assisting the Trust Department clients with proactive tax planning.

Her professional designations include Certified Public Accountant (CPA) and Certified Divorce Financial Analyst (CDFA). She is a member of the American Institute of Certified Public Accountants, MN Society of CPAs and the Institute of Divorce Financial Analysts.

Karyn lives in Hudson with her husband and has two grown children. She has been on the board of several area non-profits, including Let’s Go Fishing, Hudson Hockey Association and currently is the Treasurer of The Butterfly Path.

Phone: 651.351.3736

*Products are not a deposit or other obligation of, or guaranteed by, the bank or any of its affiliates. They are not insured by the FDIC/NCUSIF or any other agency of the United States, the bank, or any of its affiliates. There is investment risk including the possible loss of value.


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