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.
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, aptly named the Ultima Dashboard Suite (UDS), 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.
More recently, Ultima Bank Minesota has added branches in Plummer and Bemidji, with a Loan Production Office in East Grand Forks.
Today, our Vision Statement is no longer just a vision... it is reality. It is also the primary reason our historical growth rate have been 8-10%. So what do we do for an encore? Well, perhaps you will find Our Vision, as recently updated, to be rather intriguing!
With reference to Our Past, it is easy to picture why, until the early 1990's, the future of this bank was rather grim, what with its population AND deposit base declining each year. This background is provided to underscore what can be accomplished through technology coupled with a "together... we can do it" attitude. In other words, you will find that neither size nor location have anything to do with being innovative, creative or capable of providing the best service available... all at a reasonable price!
More to the point, we see technology as a tremendous opportunity, not only for small, rural community banks but also for communities of our size in general. It also explains our Vision Statement, why our Internet Banking Services are so embedded throughout this presentation, and the motive for our rather lofty Mission Statement.
In short, this presentation is NOT about "exotic" graphics. It is about a small, rural bank that believes in itself. For more information about who we are and where we see ourselves going as we begin the 21st century, click on eSolutions. Meanwhile... Please Keep In Touch. You may contact us by email, phone at: 435-2265 (local) or 1-800-421-2588 (toll-free). You can also write us at: Ultima Bank Minnesota P.O. Box 299 Fosston, MN 56542.
We look forward to hearing from you.
Arnie Skeie, CEO Emeritus
Ultima Bank Minnesota
Dawn Skeie Crane, CEO