Citizens State Bank: A Trusted Financial Institution in Waverly, Minnesota

Citizens State Bank, a pillar of the Waverly community for over a century, stands as a symbol of financial stability and unwavering commitment to its customers. With a rich history rooted in the values of integrity, service, and community involvement, the bank has consistently met the evolving financial needs of individuals, families, and businesses in the area.

A Century of Service

Citizens State Bank was founded in 1903 with a humble mission: to provide accessible and reliable banking services to the Waverly community. Over the years, the bank has grown and evolved alongside the community it serves, expanding its services and reach while始终ntly adhering to its core principles.

Key Milestones:

• 1903: Founded as the Citizens State Bank of Waverly
• 1955: Opened its first drive-thru window
• 1985: Began offering online banking services
• 2000: Expanded into neighboring communities
• 2023: Celebrated 120 years of service

Comprehensive Financial Solutions

Citizens State Bank offers a comprehensive range of financial products and services to meet the diverse needs of its customers. These include:

• Personal Banking: Checking and savings accounts, personal loans, mortgages, and financial planning
• Business Banking: Commercial loans, lines of credit, business accounts, and cash management services
• Agricultural Banking: Farm loans, operating lines of credit, and crop insurance
• Investment Services: Brokerage accounts, mutual funds, and financial planning
• Insurance: Homeowners insurance, auto insurance, and life insurance

Community Involvement

As a community bank, Citizens State Bank is deeply invested in the well-being of Waverly and its surrounding areas. The bank actively supports local organizations, events, and initiatives, and its employees regularly volunteer their time to give back to the community.

Notable Community Initiatives:

• Waverly Community Club Sponsor: Provides financial and volunteer support for community events
• Waverly Area Education Fund Supporter: Donates funds to enhance educational opportunities for local students
• Waverly Chamber of Commerce Member: Actively participates in local business development and promotion

Financial Strength and Stability

Citizens State Bank is recognized for its financial strength and stability. The bank consistently receives high ratings from independent rating agencies, including BauerFinancial, which has awarded it the 5-Star Superior rating for over 20 years.

Financial Highlights:

• Total Assets: $350 million
• Total Deposits: $280 million
• Capital Ratio: 12.5% (well above industry average)

Tips and Tricks for Banking with Citizens State Bank

• Take advantage of online and mobile banking: Access your accounts, pay bills, and transfer funds from anywhere with a secure internet connection.
• Set up automatic savings: Transfer a fixed amount from your checking to your savings account on a regular basis to build your savings effortlessly.
• Consider a secured loan: Use a valuable asset, such as your vehicle or home, as collateral to secure a lower interest rate on a loan.
• Explore investment options: Consult with a financial advisor to determine the investment options that best align with your goals and risk tolerance.
• Attend community events: Connect with bank staff and learn about the bank's involvement in the community.

Stories and Lessons Learned

Story 1: The Power of Savings

John, a young professional, opened a savings account with Citizens State Bank and set up automatic transfers of $100 per month. Over time, his savings grew significantly, providing him with a financial cushion and peace of mind.

Lesson: The power of compound interest and regular savings can help you achieve your financial goals.

Story 2: The Value of Credit

Mary, a small business owner, obtained a business loan from Citizens State Bank to expand her operations. The loan enabled her to increase her revenue and create jobs in the community.

Lesson: Access to credit can be essential for businesses to grow and thrive.

Story 3: The Importance of Financial Planning

David, a retiree, worked with a financial advisor at Citizens State Bank to create a comprehensive retirement plan. The plan included investments, tax strategies, and estate planning, ensuring his financial security in his later years.

Lesson: Financial planning is crucial for individuals to achieve their long-term financial goals.

Common Mistakes to Avoid

• Ignoring your credit score: Your credit score affects your ability to qualify for loans and obtain favorable interest rates. Monitor your score regularly and take steps to improve it if necessary.
• Overspending: Creating a budget and sticking to it can help you avoid overdraft fees and накопление of debt.
• Not saving for retirement: It's never too early to start saving for retirement. Compound interest can make a significant difference in the size of your retirement nest egg.
• Ignoring investment opportunities: Investing in stocks, bonds, or mutual funds can help you grow your wealth over time. However, it's important to understand the risks involved and invest only what you can afford to lose.
• Falling for scams: Be wary of unsolicited phone calls, emails, or letters asking for your personal financial information. Citizens State Bank will never contact you for this information.

Call to Action

If you're looking for a trusted financial partner in the Waverly area, look no further than Citizens State Bank. With over a century of experience, a comprehensive range of financial products and services, and a deep commitment to the community, Citizens State Bank is the bank you can count on for all your financial needs.

Visit our website at www.citizensstatebankmn.com or stop by any of our conveniently located branches in Waverly, Montrose, Cosmos, and Litchfield to learn more about how we can help you achieve your financial goals.

Appendix

Table 1: Financial Highlights of Citizens State Bank

Table 2: Banking Services Offered by Citizens State Bank

Table 3: Community Involvement of Citizens State Bank