communitycommunity REPORT OUR MISSION To serve with understanding, earn trust through our integrity, inspire confidence by our knowledge, and work passionately for customer, community and company success.
Starion Bank is proud to present the OUR VALUES 2020 COMMUNITY REPORT Honest, ethical and moral behavior. We practice absolute honesty, confidentiality and respect in every aspect of our business. Strong community focus. We believe in personal contribution and responsibility to the communities we serve. Our community bankers make decisions locally and act on behalf of customers. LOCATIONS OUR AWARDS & RECOGNITIONS Innovation and excellence. We embrace change as a vital shaping force. We consistently seek to North Dakota Recognized as “Best of the Best” exceed the expectations of our customers. Bismarck by Independent Banker magazine Partnering for financial success. We act as a partner to customers, matching products and Bottineau services to their financial needs. Dunseith Five-star rating from BauerFinancial Ellendale OUR VISION We will stand apart as a family-owned, Fargo Recipient of the ND SBA Director’s Award supercommunity bank providing local leadership, Mandan personal service and community loyalty along with Oakes Prairie Business magazine broad, sophisticated financial services. We are not Rolla 50 Best Places to Work honoree too big to be small, and not too small to be big.
Wisconsin Top 10 Employer by the Bismarck-Mandan Middleton Young Professionals Network Monona Sun Prairie Recipient of the Vicki Clarke Prairie Family Business of the Year Award
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Larson Family at the Billion Dollar Celebration Dollar Billion the at Family Larson Frank receiving the Greater North Dakotan Award Dakotan North Greater the receiving Frank
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community banks. community
CEO & Chairman of the Board the of Chairman & CEO makes us stand out amongst other other amongst out stand us makes
Craig Larson Larson Craig to where we are today and what what and today are we where to
when I say how humbling it was to reach this this reach to was it humbling how say I when
doing the right thing. We want to know our our know to want We thing. right the doing Learn more about how Starion got got Starion how about more Learn
another 50 years of taking you farther! you taking of years 50 another for Starion Bank. I speak for my entire family family entire my for speak I Bank. Starion for
an environment that values relationships and and relationships values that environment an
to exceed your expectations and look forward to to forward look and expectations your exceed to 2019 marked 50 years of family ownership ownership family of years 50 marked 2019
Frank’s legacy at Starion Bank helped create create helped Bank Starion at legacy Frank’s VIDEO CONTENT VIDEO
important part of Starion’s story. We strive every day day every strive We story. Starion’s of part important
rest is history. is rest EXTENDED
family, I’d like to say thank you for being an an being for you thank say to like I’d family, he encountered like family. family. like encountered he
and see the local bank for sale there, and the the and there, sale for bank local the see and
On behalf of the Larson family and our Starion Starion our and family Larson the of behalf On farmers, and businesses, and treating everyone everyone treating and businesses, and farmers,
to respond to a friend’s invitation to visit Oakes Oakes visit to invitation friend’s a to respond to
going the extra mile for individuals, families, families, individuals, for mile extra the going
always will be. be. will always sparked his interest in banking. He was eager eager was He banking. in interest his sparked
community banking with a style all his own, by by own, his all style a with banking community
the core of who we are from the very beginning and and beginning very the from are we who of core the with the legal transaction of a bank and it it and bank a of transaction legal the with
going the extra mile for them. He perfected perfected He them. for mile extra the going
foundation of Starion Bank. Those values have been been have values Those Bank. Starion of foundation prosper. As a lawyer, my father had helped helped had father my lawyer, a As prosper.
in front of you, and if they need a hand, hand, a need they if and you, of front in
technology. Trust, honesty and integrity are the very very the are integrity and honesty Trust, technology. opportunity to help a young community community young a help to opportunity
of being concerned about the person right right person the about concerned being of
customers, whether it is through people, products or or products people, through is it whether customers, in 1969, they did so because they saw an an saw they because so did they 1969, in
Frank has always emphasized the importance importance the emphasized always has Frank
constantly looking for ways we can better serve our our serve better can we ways for looking constantly JoAndrea Larson, bought the bank in Oakes Oakes in bank the bought Larson, JoAndrea
but be your partner in solving challenges. We are are We challenges. solving in partner your be but the legacy of my father, Frank. father, my of legacy the with a dream. When my parents, Frank and and Frank parents, my When dream. a with
customers so we can not only do what you ask, ask, you what do only not can we so customers milestone and to have the opportunity to share share to opportunity the have to and milestone Like any great Midwestern story, ours starts starts ours story, Midwestern great any Like
ASSOC., RETIRED ASSOC.,
WISCONSIN BANKERS BANKERS WISCONSIN
FARTHER
HARRY ARGUE HARRY the last 50 plus years. plus 50 last the you you
take pride in a lot of success over over success of lot a in pride take you
one Larson family. Starion should should Starion family. Larson one
duplicate that, but there’s only only there’s but that, duplicate
at Starion’s success and tried to to tried and success Starion’s at
TAKING
A lot of other banks have looked looked have banks other of lot A “ Founders Frank and JoAndrea Larson purchase First National Bank of 1969 Oakes with $5 million in assets
Larsons purchase First National Bank & Trust 1970 Company of Ellendale Purchase of First Southwest Bank 1989 in Mandan
Purchase of Northwestern Savings & Banks are merged into First Loan, marking expansion into the Southwest Bank, a single 1993 Bismarck market FAMILY 1995 state-chartered bank
The bank takes the name Starion Financial CEO Craig Larson grew up 2003 around the bank. Today, he is sharing that with his daughters, third generation. Starion Financial opens a bank in Middleton, Wis., 2006 a suburb of Madison
COMMUNITY Starion Financial reaches $500 2007 million in assets Community support is a core Bank enters the value at Starion. We know Fargo, N.D., market that when the community 2008 with two locations thrives, we all thrive.
Starion celebrates its 40th anniversary and reaches TECHNOLOGY 2009 $700 million in assets
From crunching numbers on an adding machine to opening an account on your phone today, Starion acquires Security State Bank with locations we evolve to meet your needs. 2011 in Dunseith, Rolla and Starion’s second Madison Bottineau, N.D., and reaches market location opens in $925 million in assets 2013 Sun Prairie, Wis., and the bank celebrates reaching $1 billion in assets EMPLOYEES
Starion acquires WPS Community Bank in Monona, Wis. Starion’s success is attributed 2015 Bank changes to our loyal employees. Each name from 2016 Starion Financial day, they show enthusiasm to Starion Bank for helping our customers.
Starion celebrates 50 years of family ownership 2019 and $1.3 billion in assets 4 5 partneringpartnering Dr. Andrew Hetland Bob Gibb Owning and running a business takes a lot “Starion’s staff has been really helpful with our TO MEET YOUR NEEDS of time and energy. That’s why it’s crucial to online banking and credit services,” said efficiently manage your finances to maximize Dr. Hetland. “They have all the services that I your time, inventory and sales. At Starion Bank, need from a bank.” we understand that having a more efficient way Regardless of the size of your operation, to do business saves everyone in the long run, technology can be used to help streamline and we’ve created a full line of services to do your business. Whether you’re looking to take just that. care of payments and collections electronically, Our Cash Management services provide implement a point of sale system, or prevent essential electronic business finance services, fraud, our suite of products offer convenience data encryption, login protection, and flexibility and flexibility to maximize your cash flow with for user access. You’re able to pay bills, collect minimal effort. payments, and manage payroll quickly and “Starion is quick to respond to our needs and easily. We also offer training and ongoing they provide electronic deposits and many support for our Cash Management clients, other conveniences for us,” said Bob Gibb, which is something that Dr. Andrew Hetland, President of Robert Gibb & Sons. “They’re Owner of Hetland Ear, Nose, Throat, and his large enough to handle what we need and team have appreciated. small enough that we can relate and get to know people really well.”
MERCHANT SERVICES ONLINE DEMOS
WATCH TO LEARN MORE AT starionbank.com/demos
6 7 HELPING DO OPTIMIZING BUSINESS RESOURCES
YOUR WAY Full Spectrum Solar has been bringing reliable solar power to Wisconsin since 2002. Director and Technology has changed the way almost Co-Founder, Burke O’Neal, first came to Starion every industry runs. With all the great cash Bank to refinance his home and decided to begin management and merchant services available, a business relationship after a great experience. you can now manage your business from across “I thought back to the positive experience that the globe or even just across town. For Luther I’d had with Starion and that’s when I first met Dietrich, President of Dietrich & Sons, Inc., our business banker, and he’s continued to be our the technology that Starion offers has made a banker since,” said O’Neal. “He’s been back in difference in the way he runs his business. our warehouse. He’s been in our offices. He saw “Our business is in multiple towns, and Starion this when it was under construction. So I feel like has given us the tools to help us leverage our Starion has a really intimate knowledge of our markets,” said Dietrich. “They understand business and our business needs,” said O’Neal. where we want to grow and what we need to O’Neal appreciates that at Starion, he has a do that, and it’s gone seamlessly.” strong, direct link to decision makers, personal At Starion, we pride ourselves on offering the attention, and low interest rates. same modern banking services as large national “I can’t see any reason why I would switch banks. banks while still providing customer service like I know that if I need to refinance again at any good community banks. It’s our commitment point or if I need to get a loan for a vehicle, the to you that we will consistently seek to I KNOW ... the rates will “ rates will always be fair and the service will be exceed your expectations by looking for new always be fair and the excellent.” technology to meet your evolving needs. service will be excellent. Full Spectrum Solar recently installed solar panels at Starion’s Middleton location. Starion also has BURKE O’NEAL solar panels in Bismarck and is committed to FULL SPECTRUM SOLAR sustainability through a number of other initiatives to save energy, water and money, such as sustainable plantings, geothermal heating/cooling systems, and a living roof.
4 LOCATIONS 165 SOLAR PANELS 3,000 SQ FT with sustainable reduce carbon living roof reduces plantings footprint by 30% energy by 20%
Luther Dietrich
8 9 Once you build something, “ you want it to stay in the family.
SUSAN BULGRIN CULVER’S supportingsupporting Susan & Katie Bulgrin Across the United States, family businesses her husband, Eric, were ready to purchase the are at the heart of the community, culture and business from her parents, Starion was there GENERATIONS economy. As a family-owned business, we to help. know that the most important ingredients for “Starion really went the extra mile to make it success are passion and dedication. You have a seamless transition all the way from business to truly love what you do and believe in what banking to personal banking,” said Sandy you’re doing. That’s why it gives us so much joy Vogel, Owner. “It’s always been a really good working with other family-owned businesses. experience with Starion, and we appreciate “Business is a lot more than just the money; that they’re a family owned, locally-owned it’s about the relationships that you form with business like us.” people. It’s about treating people right and A family business is unique, and owning one making sure that the relationship you have with presents challenges as well as opportunities. your family members gets passed on through Starion has the first-hand experience your business and sets that culture,” said Katie and resources to help you embrace new Bulgrin, Culver’s Owner. “Starion has done a opportunities to grow your business and fantastic job of setting that culture of treating make it a success for years to come. people like people, rather than treating people like businesses.” “Katie’s my daughter, and she’s worked with me from the time I first opened up this KEEPING IT IN THE FAMILY restaurant 23 years ago. She and her two Starion Bank’s owners are proud that their sisters would come and work at the restaurant third generation is committed to being after school and on the weekends,” said involved in the family business. We know that Susan Bulgrin, Culver’s Owner. “I hope that the succession from one generation to the I’ll be able to pass Culver’s down to the next next can be a joyful journey, but also requires generation because once you build something, an effective plan to transfer ownership and you want it to stay in the family.” management. We’ve helped many businesses make a smooth transition, including Northland Auto Auction and Storage. Eric & Sandy Vogel Northland Auto Auction Starion Bank has worked with Northland since and Storage they opened in 1988. When Sandy Vogel and |
10 11 If you want to open a checking or savings EVERYTHING UNDER account, request an insurance quote, or apply for a mortgage, you can do all of this right ONE ROOF from your phone or computer. You can easily access your accounts with our free Mobile Banking app, and enjoy surcharge-free ATM access at more than 32,000 ATMs across the Starion is the bank for people who like working family, we offer products and services to meet country. Managing your money is easy with with someone who will take the time to get to your evolving needs, and expert advice to take Starion, but the real value is nearby personal know them. Your family, story and goals are all your finances farther. service. We give you helpful attention and PROTECTING YOUR important to us, so we bring you the services “Starion has helped us with all of our loans; service, and are available when you need us. that will take you farther in life. Eric Vogel, BIGGEST INVESTMENT our home loan, our pool loan, all of our vehicle Northland Auto Auction and Storage, enjoys “Starion is super special because of the loans. We have savings accounts there, and our We know how important your business the convenience of having all of his banking employees there,” said Fergel. “It feels like kids even bank there,” said Courtney Fergel. is to you and how hard you work to services offered at one place. a family. They’re very friendly, very loyal and “I would recommend them to anybody. They provide for yourself and your family. honest. I can always rely on them.” “Through our business, we’ve worked with always give me great advice and are always That’s why one of the most important Starion Bank for many years. We financed our there for me.” things you can do is make sure your home with Starion four years ago and carry business is securely covered. REAL SOLUTIONS FOR REAL LIFE all of our insurance through them, too,” said With over 50 years in the industry, Starion Bank At Starion Insurance, we’re here to Vogel, Owner. “It’s very convenient having has seen a lot of changes in banking. One help. Our team has the experience to everything under one roof.” recent shift has been when and where people build a coverage package to protect At Starion, we provide the big bank do their banking. More and more, people are you, your business and your customers conveniences you want with the individual wanting to bank in the evening, on weekends, from all types of risk. Because we attention you deserve. Whether you’re and from the convenience of their home, so have longstanding relationships with remodeling your basement or taking out we’ve adapted to meet their evolving needs. numerous reputable national insurance carriers, we’re able to offer you a additional insurance coverage for your growing Sandy & Eric Vogel comprehensive selection of plans whether your business is large or small.
PREMIUM ARRAY From contractors insurance to crop- OF EXCLUSIVE SERVICES hail insurance, we have many options For busy executives, business owners and to help ensure an accident, customer other busy professionals, partnering with a injury or worker disability don’t put private banker can be highly beneficial. Private you in a difficult financial situation. bankers don’t just open a checking account Together, we can choose one that’s for a client, they take care of your entire right for you and your business so you financial well-being. They are a single contact can protect your most valuable assets. and gateway to all financial resources whether you’re in need of a line of credit for everyday Visit starionbank.com/insure or talk purchases, a custom solution to finance real with an agent to get a full listing of estate, life insurance premiums or more. As the the policies we can provide for your sole contact for managing all of your services, custom coverage package. your private banker offers expedited access Insurance products are: * Not a deposit * Not FDIC and is always ready to move on your behalf. insured * Not insured by any federal government agency * Not financial institution guaranteed Fergel family 12 13 Sticking with the bank all Steve Grenier “ of these years was an easy growgrow decision. TO YOUR POTENTIAL STEVE GRENIER GRENIER FARMS
You might not be able to control the weather, they helped facilitate that. We decided to prices or yield, but you can choose a bank that install drain tile so we purchased some tiling makes decisions locally and delivers results equipment and they did the financing on that, when the timing is right. too. They’ve helped keep my farm running.”
With roots in rural North Dakota, working with GENERATIONS OF SUCCESS the ag industry has always been an important You’ve worked your whole life to keep the part of our business. We work hard to make farm going, so we understand that it’s likely sure you have the banking services you’re a priority to keep your farm within the family, looking for, from a loan for new equipment to passing it down to the next generation. As Mobile Banking account access from the field. a family-owned bank, we understand how special a family-run operation is and have a “It’s a good joint venture between ourselves Grenier Kyle & Drew long history of supporting local producers. family Courtney and Starion,” said Pat Roney, Farmer. “We We will be there for you, as well as the just purchased another piece of ground and next generation, to buy the piece of land, equipment or cattle or set up an escrow account – whatever is needed to succeed. We Growing up on a family farm teaches you a “They’re just great to sit down across the work with farm succession plans as well to be work ethic that stays with you the rest of your table with and have a conversation,” said Kyle your farming partner in the future, helping to life. Many of our agribusiness bankers grew Courtney, Farmer. “From bouncing ideas off keep the legacy alive. up on family farms or currently own a farm, each other to talking about expansion on our so we know how to be a strong partner for operation, markets, or even asking how the “I’m a third generation working with Starion you. We take the time to come out to your family is doing, they’ve helped our business and my kids are generation four,” said Steve operation, see the farm first-hand, and get a grow quite a bit.” Grenier, Farmer. “Sticking with the bank better handle of your needs. Our bankers take all of these years was an easy decision. a special interest in your operation because we They have helped me to be successful with want to know it inside and out. encouragement and creative ideas.” Roney family |
14 15 A TRADITION OF communitycommunity SUPPORT AND SUCCESS
Our founder, Frank Larson, has had a to athletic programs, hunger relief to college philosophy of community support since the scholarships. We know that these organizations very beginning. This has continued to guide help make the community strong and vibrant, us in everything we do and shaped us into the and we’re proud to support so many groups supercommunity bank we are today. that share our mission to build a better community. We have a strong commitment to community support and take responsibility for its success. “I’m a member of a couple of communities –
We invest in our communities because it’s the Medora and Bismarck-Mandan – and you look right thing to do, and feel fortunate to be able in those communities and can see Starion
to give back monetarily. Starion has donated helping in a number of projects that benefit millions of dollars to charities and local the community,” said Randy Hatzenbuhler, GETTING THE WHOLE TEAM INVOLVED Another big way we give back is through the organizations in North Dakota and Wisconsin.“ President of the Theodore Roosevelt Medora It is especially important that each of our time we share with local organizations. As part Last year, major donations were given to Foundation. employees has a connection to how the bank of our anniversary celebration, employees also local groups ranging from arts organizations gives back to the community. For example, we received two days of Volunteer Time Off to make coined 2019 the Year of Giving & Caring. As a difference in their community. It’s our way of part of this, each employee was given $500 helping our employees make an impact. to donate to a charity of their choice. Some “I’m very grateful our employees express employees donated to help those who are less such an interest in living out Starion’s values fortunate, others to our four-legged friends in as a supercommunity bank,” said Craig need. Some felt strongly about supporting our You … can see Starion helping Larson, Starion Bank CEO. “By giving back, troops while others felt called to give the money they make the community a better place and in a number of projects that to disease research. We know that not everyone positively impact less fortunate members of our has the funds to support the charity they are benefit the community. community!” passionate about, so it has given us great joy to RANDY HATZENBUHLER make this possible for our employees. THEODORE ROOSEVELT MEDORA FOUNDATION
16 17 OUR LEADERSHIP
HOLDING COMPANY BOARD OF DIRECTORS EXECUTIVE COMMITTEE
Frank Larson Craig Larson Shelley Larson Heidi Barranger Curt Walth Starion Bank Starion Bank Family Owner/ Family Owner/ Starion Bank Craig Larson Don Morgan Stacy Hall Brenna Grossbauer Founder Chief Executive Officer & Shareholder Shareholder Executive Vice Chief Executive Officer & President Chief Information Officer/ Chief Human Chairman of the Board President Chairman of the Board Chief Operations Officer Resources Officer
MADISON ADVISORY BOARD
LaDawn Schmitt Ryan McKay Rick Geloff Chief Credit Officer Chief Risk Officer Chief Financial Officer Mary Ann Drescher Paul Lenhart Susan Bulgrin Michael Adler Attic Angel Association Krupp General Contractors Culver’s Restaurants Restaino & Associates Realtors BANK BOARD OF DIRECTORS President President & Owner Realtor Joined in 2006 Chief Executive Officer Joined in 2009 Joined in 2010 Joined in 2009
Craig Larson Don Morgan Curt Walth Shelley Larson Starion Bank Starion Bank Starion Bank Family Owner/Shareholder Chief Executive Officer & President Executive Vice President Joined in 2019 Jim Anderson David Baehr Chairman of the Board Crown Commercial Real Baehr, Inc. Estate & Development, LLC President Broker-Partner Joined in 2015 Joined in 2015
MARKET PRESIDENTS
Vern Dosch Shannon McQuade-Ely Cameron Knutson Dr. Dale Klein Starion Bank McQuade Distributing Knutson Realty Sanford Health Lead Director President Owner Family Medicine Physician Joined in 2002 Joined in 2012 Joined in 2020 Joined in 2004
Lee Weisbeck Chuck Neubauer Aaron Tschosik Dan Staller Bismarck and Mandan Bottineau, Dunseith Ellendale Fargo and Rolla
Donovan Bertsch Randy Hatzenbuhler Paul Lenhart Matt Younkle Theel, Inc. Theodore Roosevelt Krupp General Contractors Move Counselors, LLC Dealer Principal Medora Foundation President & Chief Executive Owner Joined in 2011 President Officer Joined in 2020 Brian Fisher John Zetocha Joined in 2005 Joined in 2009 Madison Oakes 18 19 TOTAL ASSETS
YTD average FINANCIAL in millions $1,383 $1,257 $1,290 GROWTH $1,175 $1,213
GROWING TO SERVE A good bank is a catalyst for growing individual wealth, successful businesses, and strong communities. We know that 2015 2016 2017 2018 2019 when Starion Bank is doing well, we’re able to better serve others. STRENGTH IN NUMBERS Starion Bank is a high-performing bank TOTAL DEPOSITS known for its stability. In 2019, our YTD average in millions earnings were more than $19 million $1,126 with steady capital growth as well as $1,055 loan and deposit growth. $1,028 $1,005 $981 For 2019, key performance ratios were higher than industry averages. As of December 31, 2019, the industry average for ROA is 1.41% compared to Starion Bank’s 1.36%. For ROE, industry 2015 2016 2017 2018 2019 average is 12.76% while ours is 12.34%.
GIVING BACK As Starion grows, so does our ability TOTAL LOANS
to finance and support major projects YTD average in our communities. We are a major in millions benefactor to significant local projects $962 and are proud to have donated millions $871 $910 $813 $834 of dollars to local organizations. We are so grateful for the growth we’ve experienced and how it’s allowed us to continue making a difference in our communities. 2015 2016 2017 2018 2019
20 TAKING youyou FARTHER
Member FDIC 7/20