First National Bank of Moose Lake Rates & Review

First National Bank of Moose Lake review

First National Bank of Moose Lake is a full service FDIC-insured bank with two branches in Moose Lake, Minnesota. It is a locally owned, employee owned, independent bank. The bank was first incorporated as Security State Bank in 1919, was rechartered as First National Bank of Moose Lake in 1926 and within the next few years acquired assets from selected branches of Farmers State Bank. Today, the bank provides deposit and loan products, investment services, and insurance products.

Deposit account options

Checking account options offered in 2010 include a Rewards Checking Account with unlimited check writing and no monthly service charge when required account balance is maintained, Interest Checking with no monthly service charge with a $1,000 minimum balance, and a Regular Checking Account with no minimum balance.

Savings products include a traditional bank savings account, specialized accounts for young savers, savings bonds starting at $25, a money market account with tiered interest rates, and CD terms ranging from three months to five years. The bank offers Coverdell Educational Savings Accounts and Individual Retirement Accounts. Internet banking is available.

Loans and credit

Financing is available for real estate and commercial purposes. The bank offers a variety of loans including real estate loans for homes, farms, businesses and recreational property; commercial loans such as livestock and machinery loans and SBA loans; and personal loans including automobile and truck loans, home equity loans and personal lines of credit. The bank offers gift cards, credit cards, travel money cards, and a merchant credit card program.

Investment and insurance services

Investment services are available through Investment Centers of America (ICA), a registered investment advisor which is not affiliated with FNB Moose Lake. Through ICA, the bank also offers a wide variety of insurance products including home, auto, life, health, general liability, and long term care insurance.