About Us

When banks get big, it’s just inevitable: decision-makers don’t live in their communities, and don’t know their customers. That’s not how it should be. We’re Park State Bank.  We’re growing, but we’re still here, where you are. We’re from, in and for our communities – looking for ways to say “yes” to your plans and ambitions, finding opportunities to bring success home to everyone we work with, and working to build stronger communities. It’s how we create brighter futures for all.

Welcome to banking done right.

Our Story

Park State Bank has proudly grown to become one of Minnesota's largest independently owned banks, with over $1 billion in combined assets and a legacy of serving clients and small businesses for more than a century. Established in Duluth’s Morgan Park neighborhood in 1916 and revitalized with new ownership in 2015, we’ve expanded from two locations to fifteen—all dedicated to communities across Minnesota.

We are deeply committed to providing exceptional, personalized service while strengthening the communities we serve. Known for treating our clients with care and respect, we strive to make a meaningful difference in the lives of our clients and the vibrancy of our neighborhoods. Our continued growth creates more opportunities for employees, benefits for clients, and greater capacity to give back to our communities.

Thanks to our valued clients and dedicated employees, Park State Bank has achieved significant recognition:

• Named the Top-Performing Community Bank in Minnesota with assets under $3 billion by S&P Global Market Intelligence (2018, 2019, 2020 & 2022).
• Featured on the Minneapolis-St. Paul Business Journal's Fast 50 List of fastest-growing companies for six consecutive years (2019–2024), ranking as high as #4 in 2021 and 2022.
• Ranked #18 nationwide by the Independent Community Bankers of America (ICBA) for commercial loan production among banks with over $1 billion in assets.
• Park Financial Group, Inc., our parent company, has appeared on the Inc. 5000 List of fastest-growing private companies in America for six straight years (2019–2024).

Looking ahead, the future is bright. Our client-centric approach to delivering tailored financial solutions continues to define how we build lasting relationships with individuals and small businesses.

Our unwavering commitment to delivering exceptional service to our clients and communities remains a cornerstone of who we are, even as we continue to grow. Active community engagement has been a proud part of our heritage since day one, and in recent years, this tradition has only strengthened. Across our family of banks, we’ve supported more than 100 charities and organizations, underscoring our dedication to making a meaningful impact.

We’ve also demonstrated leadership through programs that support small businesses. Our team worked tirelessly during the COVID-19 crisis, funding nearly $200 million in Paycheck Protection Program (PPP) loans to help small businesses retain their workforce. Additionally, Park State Bank provided over $47 million through the Main Street Loan Program to support businesses in need.

As a united organization, we take pride in addressing the needs of our communities, creating opportunities, and tackling challenges. By contributing our time, talent, and resources, we are committed to building a brighter future in the places we call home.