Eagle Bank - History

In the early 1900s, Villard had two banks: The Villard State Bank and the Farmers State Bank of Villard. Both of these banks failed in the mid-1920s, however, and Villard was without a bank until 1980 when the Minnesota legislature decided to let well-capitalized and well-managed banks open branch offices in unbanked communities. So at that time, The Pope County State Bank opened an office in Villard which has prospered and which serves the community well with convenient, personalized services to hometown people. In 1995, the bank's name was changed to Eagle Bank.

The Bank of Elbow Lake was established in 1887 and has served the county seat community of Elbow Lake and the surrounding rich agricultural area since that time. In order to take advantage of opportunities provided by new computer technologies, the bank sold on January 5, 1995 to the Pope County State Bank of Glenwood and has enjoyed good business growth. The following October, the bank's name was changed to Eagle Bank to better reflect the enlarged geographic area. Over many years of changes, generations and growth, one thing that has not changed is the bank's friendliness and concern in dealing with and serving the public. This will always remain our goal.

On July 30, 1945, the State Bank of Wendell opened for business and has been a strong influence in this community, serving the agricultural base of this very fertile farming area. On January 5, 1995, the Pope County State Bank of Glenwood purchased the State Bank of Wendell. This brought the capabilities of modern technology to this fine office staffed by highly motivated local workers. On October 20, 1995, the bank's name was changed to Eagle Bank in order to reflect the enlarged geographic area of the organization.

Glenwood
Eagle Bank traces its roots back to the Fremad Association that was organized in 1874 and operated as a general store in Glenwood. At that time, the town had no financial services and since the Fremad Association owned a very large and strong safe, local residents started asking them to take care of their money for them. The Fremad Association began accepting people's money for safekeeping. Soon they were operating what really was a bank. Check blanks from that day show that they used the name "Fremad Association Bank." On April 12, 1884, the Fremad Association amended its Articles of Incorporation to read "to carry on the business of banking…"

During the 1880s and 1890s, it set up correspondent banking relationships with the major banks in Minneapolis and St. Paul and were in fact operating as a full-fledged bank without any formal organization. Their friends in the city banks encouraged them to formally organize a bank. On December 2, 1901, they formally organized a private bank known as "Pope County Bank." All assets and liabilities of the Fremad Association Bank were then transferred into the newly formed bank. In 1906, a new building was constructed next to the Fremad Association and remained there until October 11, 1971, when we moved into a new building at our present location on the corner of Franklin and Minnesota Avenue in Glenwood. On December 8, 1980, the Pope County State Bank opened a branch office in Villard and on January 5, 1995, the Pope County State Bank completed acquisitions of the Bank of Elbow Lake and the State Bank of Wendell. These bank were merged into the Pope County State Bank. This expansion provided excellent geographic diversification and added strength to the organization and enabled the bank to economically utilize many emerging technologies. On October 20, 1995, the name was changed to Eagle Bank to better reflect the larger geographic area.

Villard
In the early 1900s, Villard had two banks: The Villard State Bank and the Farmers State Bank of Villard. Both of these banks failed in the mid-1920s, however, and Villard was without a bank until 1980 when the Minnesota legislature decided to let well-capitalized and well-managed banks open branch offices in unbanked communities. So at that time, The Pope County State Bank opened an office in Villard which has prospered and which serves the community well with convenient, personalized services to hometown people. In 1995, the bank's name was changed to Eagle Bank.

Elbow Lake
The Bank of Elbow Lake was established in 1887 and has served the county seat community of Elbow Lake and the surrounding rich agricultural area since that time. In order to take advantage of opportunities provided by new computer technologies, the bank sold on January 5, 1995 to the Pope County State Bank of Glenwood and has enjoyed good business growth. The following October, the bank's name was changed to Eagle Bank to better reflect the enlarged geographic area. Over many years of changes, generations and growth, one thing that has not changed is the bank's friendliness and concern in dealing with and serving the public. This will always remain our goal.

Wendell
On July 30, 1945, the State Bank of Wendell opened for business and has been a strong influence in this community, serving the agricultural base of this very fertile farming area. On January 5, 1995, the Pope County State Bank of Glenwood purchased the State Bank of Wendell. This brought the capabilities of modern technology to this fine office staffed by highly motivated local workers. On October 20, 1995, the bank's name was changed to Eagle Bank in order to reflect the enlarged geographic area of the organization.

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