State Bank of Fairmont: Your Trusted Financial Partner in Southern Minnesota

Committed to Community Banking Excellence

For over 130 years, the State Bank of Fairmont has been an integral part of the financial landscape of southern Minnesota. With a deep-rooted history of serving the community, the bank is dedicated to providing a wide range of financial products and services tailored to meet the needs of both individuals and businesses.

Core Values that Drive Our Success

At the heart of our unwavering commitment to excellence lie four core values:

• Financial Strength: As a consistently well-capitalized institution, we maintain a solid financial foundation that ensures the safety and security of our customers' deposits.
• Customer Focus: We prioritize the needs of our customers and strive to deliver exceptional service through personalized attention and tailored solutions.
• Community Involvement: We believe in investing in the communities we serve, actively supporting local businesses and organizations to foster economic growth and social well-being.
• Employee Engagement: Our talented and dedicated team of financial professionals is the backbone of our success, providing expert guidance and unwavering support to our customers.

Comprehensive Financial Solutions

The State Bank of Fairmont offers a diverse portfolio of financial products and services, including:

• Personal Banking: Checking, savings, and money market accounts; debit and credit cards; consumer loans; and mortgages.
• Business Banking: Commercial loans, lines of credit, and cash management services; financing for real estate, equipment, and working capital.
• Agribusiness Banking: Specialized loan programs and financial services tailored to the needs of farmers and agricultural businesses.
• Wealth Management: Trust, investment, and retirement planning services to help individuals and families secure their financial future.

Digital Banking Convenience

In today's fast-paced world, we understand the importance of convenient and secure access to financial services. Our robust online and mobile banking platforms empower customers to manage their accounts, make payments, and stay on top of their finances anytime, anywhere.

Financial Literacy and Community Support

Beyond our core financial offerings, the State Bank of Fairmont is deeply committed to financial literacy and community outreach. We offer educational programs, workshops, and resources to help individuals of all ages make informed financial decisions.

Our commitment to community involvement extends to supporting local schools, businesses, and non-profit organizations. We believe that by investing in our community, we invest in the future of our region.

Strong Financial Performance

The State Bank of Fairmont has consistently achieved strong financial performance, evidenced by its:

• Solid Capital Position: The bank maintains a capital ratio well above regulatory requirements, ensuring its resilience in challenging economic conditions.
• High Asset Quality: Our loan portfolio is characterized by low levels of non-performing loans, demonstrating the prudent underwriting practices of our lending team.
• Excellent Earnings: The bank consistently generates strong earnings, allowing us to reinvest in our business, provide value to our shareholders, and support our community.

Local Roots, National Strength

As a locally owned and operated bank, the State Bank of Fairmont is deeply connected to the community it serves. However, we also benefit from the strength and stability of our membership in the Independent Community Bankers of America (ICBA), a national organization representing the interests of community banks across the United States.

Independent Community Banks: Key Statistics

• Number of ICBA Member Banks: 4,900+
• Total Assets Held by ICBA Members: $5.9 trillion
• Percentage of U.S. Deposits Held by ICBA Members: 20%

Effective Strategies for Financial Success

To help our customers achieve financial success, we recommend the following strategies:

• Create a Budget: Track your income and expenses to identify areas where you can save or optimize your spending.
• Set SMART Goals: Define specific, measurable, achievable, relevant, and time-bound financial goals.
• Invest Regularly: Start investing early and make contributions to your retirement accounts consistently.
• Seek Professional Advice: Consult with a financial advisor to develop a personalized financial plan tailored to your unique needs and risk tolerance.
• Stay Informed: Educate yourself about financial matters and make informed decisions based on reliable information.

Tips and Tricks for Smart Banking

• Use Direct Deposit: Have your paycheck directly deposited into your checking account to avoid late fees and lost checks.
• Automate Savings: Set up automatic transfers from your checking account to a dedicated savings account to build your savings without effort.
• Round Up Transactions: Enroll in a program that rounds up debit card purchases to the nearest dollar and transfers the difference to your savings account.
• Pay with Debit Instead of Credit: Avoid credit card debt by using your debit card for everyday purchases and paying it off in full each month.
• Monitor Your Transactions Regularly: Review your bank statements and online account activity to identify any unauthorized or unusual transactions.

Inspiring Stories of Financial Transformation

Story 1: Emily, a single mother, struggled to make ends meet. With the help of a financial advisor at the State Bank of Fairmont, she created a budget, set savings goals, and consolidated her high-interest debt. Within a few years, she was able to save for a down payment on a home, providing a stable and secure environment for her family.

Story 2: Mark, a local business owner, needed a loan to expand his operations. The State Bank of Fairmont worked closely with Mark to understand his business needs and tailored a loan solution that allowed him to invest in new equipment, hire additional staff, and increase his sales.

Story 3: Jennifer, a retiree, wanted to ensure that she would have sufficient income to cover her expenses throughout her retirement. The State Bank of Fairmont advised Jennifer on investment strategies, helped her create a withdrawal plan, and provided peace of mind that her financial future was secure.

These stories illustrate the transformative power of our personalized financial advice, tailored products, and unwavering commitment to our customers' success.

Pros and Cons of Banking with the State Bank of Fairmont

Pros:

• Local, Community-Focused Bank: As a community bank, we are dedicated to supporting the local economy and investing in our customers' financial well-being.
• Strong Financial Performance: Our solid capital position, high asset quality, and excellent earnings demonstrate our financial stability and ability to withstand economic challenges.
• Personalized Service: We take the time to understand your unique financial needs and goals and provide tailored solutions to help you succeed.
• Range of Financial Products and Services: From personal banking to business lending to wealth management, we offer a comprehensive suite of financial services to meet your evolving needs.
• Commitment to Financial Literacy: We believe in empowering our customers with financial knowledge and resources to make informed decisions.

Cons:

• Limited Branch Network: As a community bank, our physical branch network is smaller than that of larger national banks.
• May Not Offer All Specialty Products: We focus on providing essential financial products and services that meet the needs of most customers. However, we may not offer the full range of specialty products found at larger banks.
• Lower Interest Rates on Deposits: Due to our lower operating costs, we typically offer lower interest rates on deposit accounts compared to online or national banks.

Conclusion

The State Bank of Fairmont stands out as a trusted financial partner, offering exceptional service, personalized advice, and a range of financial solutions tailored to the needs of individuals and businesses in southern Minnesota. Our commitment to community banking excellence, financial strength, and customer focus has made us an integral part of the financial landscape of the region for over 130 years.

By choosing the State Bank of Fairmont, you can trust that your financial well-being is in the hands of a team of experienced professionals who are dedicated to helping you achieve your financial goals. We invite you to visit one of our branches, call us at (507) 238-3123, or visit our website at www.statebankfairmont.com to learn more about our services and how we can help you succeed.

Tables

Table 1: State Bank of Fairmont Financial Performance

Table 2: Comparison of State Bank of Fairmont and National Banks

Table 3: Benefits of Independent Community Banks