On May 4, 1914, the Articles of Incorporation were signed by our founders chartering a small, community owned bank to serve the residents of South Stillwater. The First State Bank of South Stillwater opened its doors for business on June 3 on the corner of Third Street and Central Avenue.

By 1922, South Stillwater residents wanted to establish their own identity with an exclusive town name all their own. A special election was held and the name Bayport was chosen. The bank followed suit and, on January 2, 1923, became the First State Bank of Bayport.

First State Bank of Bayport continued to grow. In April of 1923, we moved to a new building on the corner of Third Street and Fifth Avenue. We moved again in 1958, to the corner of Third Street and Fourth Avenue, and in 1980, a larger building was erected at our current Bayport location. Since then the building has been expanded twice. In addition, we now have two branch locations in Oak Park Heights and we have a new facility in Stillwater.

Over the years, the bank’s customer range has expanded and our capabilities have broadened. We offer insurance and investments, in addition to progressive banking services. Our Trust Services Department, established in 1987, holds over $650 million in assets.

On January 1, 2003, we changed our name from First State Bank of Bayport to First State Bank and Trust. We will miss seeing Bayport in our name, but true to our humble beginnings, we continue to treat every customer like an old friend. Only our name has changed. We are the same trustworthy community bank with local ownership and management that was established in 1914. First State Bank and Trust is simply a better reflection of the bank we are today.

Deeply etched in the first chapter of our bank's life story are the names of its enterprising founders. The inaugural officers were President, L. E. Torinus; Vice President, E.L. Hospes; Cashier, James Schow and Directors, Edward C. Kroger, Fred S. Lammers and Fred C. Andersen.

The presidents of the First State Bank over the years have been as follows:

L. E. Torinus, May 4, 1914 - September 7, 1922
Fred C. Andersen, September 7, 1922 - January 6, 1959
William E. Alvin, January 6, 1959 - October 16, 1969
Keith R. Clements, October 16, 1969 - January, 1986
Gregory L. Benson, January, 1986 - December 2006
Peter J. Clements, January, 2007 - Present