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| Our Past |
| Ultima Bank Minnesota, formerly called Farmers State Bank of Winger and more recently Farmers State Bank of Fosston-Winger, was founded in 1904 in Winger, Minnesota, a small farming community in the northwest corner of the state. As typical of such communities, Winger's population peaked in the 1940's and then began to dwindle from about 400 to approximately 200 people today. While the town has held its own the past ten years, the surrounding rural population continues to decline. |
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Winger Bank c.1904
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While our charter remains in Winger, a second facility was established in 1994 in Fosston, a nearby community of approximately 1600 people (with two other banks and Farm Credit Services also located there). At the same time, we updated our Strategic Plan, developed a new set of "technology based" products and then began a rather pro-active marketing campaign. In short, because of (and perhaps in spite of) our remote location, the size of our communities as well as our own small size, it became our Vision at that time...
To Market and Provide Our Products and Services "Nationwide" Through "KNOWLEDGE BASED" State-Of-The-Art Technology.
Today, that is no longer a Vision... it is Reality. It is also the primary reason our assets have grown a compounded average of 19% per year these past seven years. So what do we do for an encore? Well, perhaps you will find Our Vision, as recently updated, to be rather intriguing!
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