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#BanksNeverAskThat

October is National Cybersecurity Awareness Month. To coincide with this, the American Bankers Association (ABA) has launched a #BanksNeverAskThat antiphishing campaign to help Americans keep their bank accounts safe!

Every day, thousands of people fall victim to fraudulent emails, texts and calls from scammers pretending to be their bank. The ABA wants to help change that by raising awareness among banks and their customers of best practices for phishing defense.

Visit our Facebook page at: https://www.facebook.com/citizensmn and watch for multiple posts throughout the month to help you become a pro at spotting fraud. You’ll even have a chance to win weekly prizes courtesy of the ABA! Get tips and tricks to spot scams with the #BanksNeverAskThat quiz: bit.ly/2Dt8bCD

CARES Act Loans Program Update

Citizens Bank Minnesota continues to process Paycheck Protection Program (PPP) loans for those businesses that qualify and have not yet taken advantage of the program. So far Citizens has helped over 250 businesses with PPP loans to help their employees. Click HERE to visit our website for additional information on applying.

Also, the Small Business Association’s (SBA) Economic Injury Disaster Loan (EIDL) has re-opened, with funds currently available only to agriculture businesses with 500 employees or less.

Those interested may apply for a loan of up to $2 million, and at the end of the application form, applicants can request an advance of up to $10,000 ($1,000 per employee). The advance will be provided just days after the application has been submitted. The advance amount received doesn’t have to be repaid, even if you ultimately don’t qualify or decide to withdraw your EIDL application.

One important note is the amount of any EIDL advance received will be subtracted from the forgivable portion of PPP funds provided to the same applicant.
Unlike applying for the Paycheck Protection Program (PPP), which requires applicants to work with their lender, clients must directly apply for an EIDL through the SBA.To learn more or apply for an EIDL, visit the SBA website at: sba.gov/disaster .

CARES Act – SBA Loan Assistance Information

**Please Note: The PPP application was updated late on 4-2-20. The updated link to the application, as well as an updated documentation link is listed below.

The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress are intended to assist business owners with whatever needs they have right now. When implemented, there will be many new resources available for small businesses, as well as certain non-profits and other employers. The CARES Act Loan Guide provides information about the major programs and initiatives that will soon be available from the Small Business Administration (SBA) to address these needs, as well as some additional tax provisions that are outside the scope of the SBA.

How can we help?

Paycheck Protection Program

Citizens Bank Minnesota will be processing and approving your Paycheck Protection Program (PPP) applications. To be efficient, we will be accepting applications and documentation HERE.

Important Links:

**PPP Application – There were changes made to the application on 4-2-20. Updated link is listed below.

Application

Documentation List – If you have submitted these items to Citizens Bank Minnesota previously, we will provide them for you. If you have not submitted them to Citizens Bank Minnesota, they are required to complete the application.

Calculator

Regulations for the Payroll Protection Program

All PPP forms available HERE.

Economic Injury Disaster Loan and Grant

To apply for the Economic Injury Disaster Loan and the Emergency Economic Injury Grant, the application can be found at: https://covid19relief.sba.gov/ (This application does NOT go through Citizens Bank Minnesota.)

Here is a list of documents that you will need to provide to complete the application:

If you would like, we can send you the documents in a secure email.
For the fastest help with the application, watch the training, download the slide deck, or access these step-by-step instructions.

Let us know if you have any questions – we are here for you!
Citizens Bank Minnesota Lending Team

Questions? Please give us a call at 800-549-0194.

Citizens Bank Minnesota acquires Farmers State Bank of Watkins

Citizens Bank Minnesota is pleased to announce that an agreement has been reached to acquire Farmers State Bank of Watkins, located in Watkins MN.  Farmers State Bank will merge with and into Citizens Bank Minnesota. In addition to the Bank merger, Citizens Bancorporation of New Ulm, Inc., parent company of Citizens Bank Minnesota, has entered into an agreement to purchase Farmers State Agency of Watkins, Inc., an insurance agency.  An April 18, 2020 closing date is expected for both acquisitions.  

Citizens Bank Minnesota is community-owned and operated with over 144 years of strength and stability.  Being chartered in 1876, it is one of the oldest banks in Minnesota with total assets of $430 Million.  Citizens main office is located in New Ulm, with branch offices in Lafayette, La Salle and Lakeville, Minnesota.  

Citizens Agency is an independent insurance agency representing more than 20 companies with a full-line of insurance products and services. 

Citizens is well known for its energetic community involvement and support for growth and success in the areas it serves.  The bank takes pride in being community-owned with stock widely held by residents of the area.  Bauer Financial, an independent bank research firm, has consistently rated Citizens a 5-Star institution for the past 30 years.  In 2019 Citizens was named New Ulm’s Large business of the year and New Ulm Journal’s Reader’s Choice Award for Best Financial Institution.  For more information, we encourage you to visit www.citizensmn.bank

Farmers State Bank of Watkins was founded in 1914 and has been providing financial services to the town of Watkins and the surrounding area for over 100 years.  The existing staff of Farmers State Bank of Watkins and Agency will continue providing the same quality service for clients, with added benefits of Citizens WooHoo! Banking products, enhanced technology and more to come. “We are excited to be joining with Citizens and believe the transaction will enhance our ability to serve the banking needs of our Watkins customers,” said David Neisen, President of Farmers State Bank of Watkins. 

 “We are excited for Watkins to join the Citizens team and believe they will be a great fit with our culture, which is essential to our continued success,” said Mark Denn, President and CEO of Citizens Bank Minnesota.  “All of ourlocations are high performing and committed to the customers and communities they serve.  We are honored for this opportunity and ready to move forward together and have some fun.”

Dustan Cross, Chairman of Citizens Board of Directors states, “The Board of Directors and the shareholders are proud of the hard work and due diligence undertaken by our Bank’s management team to bring this merger together.  We believe this acquisition will continue our Bank’s long-term strategic goal of smart and sustainable growth to ensure that Citizens Bank Minnesota remains a premier source of financing and other products for all of its customers.” 

Citizens looks forward to serving the Watkins community!

Don't Let Your Banking Be Disrupted! Citizens Is Here For You!

Our lobbies may be temporarily closed, but we are all still here for you! We have employees working at all of our locations and can see you by appointment. Just give us a call to set one up!

  • New Ulm: 800-549-0194
  • Lafayette: 800-459-7563
  • La Salle: 877-308-9546
  • Lakeville: 952-469-1919

And don’t forget – our drive-up and walk-up services in New Ulm and Lakeville are open with regular hours.

  • New Ulm: Monday – Friday, 7:30 AM – 5:00 PM. Saturday – 8:00 AM – Noon.
  • Lakeville: Monday – Friday, 8:30 AM – 5:00 PM. Saturday – 9:00 AM – Noon.

We have the tools that allow you to bank from home!

Online & Mobile Banking: You can do your banking anytime and from anywhere! Click here to learn more about Online Banking, and here to learn more about Mobile Banking.

ATM Deposits: Our ATMs in New Ulm and Lakeville are very user-friendly and have some great features!

  • Accepts cash AND check deposits
  • Deposits after 2:30 PM will be posted next day
  • Open 24/7!

Telephone Banking: With our CitizensOn-Call Telephone Banking Service, your accounts are accessible anytime, day or night. All you need is a telephone. Click here for more information about this service.

WooHoo! Text Club: Want to stay up-to-date on the latest notices, event information, updates, alerts and announcements from Citizens? Simply text CITIZENSMN to 474747 and fill out the form to opt in!  ZERO spam and NEVER shared! *Message and data rates may apply. Text STOP to cancel at any time.

Please remember: Banks are the safest place to keep your money. We may have temporarily closed our lobbies, but your deposits remain safe at our bank, as does your access to your funds. You can find more information regarding this here.

For the most up-to-date information regarding Citizens and COVID-19, please visit our website at: https://www.citizensmn.bank/ask-us/covid-19-information

WooHoo! Citizens Is The Bank For You!

Where you can you get Ultimate products, service and experience? At Citizens Bank Minnesota of course! We’re the home of “WooHoo! Banking” and we have everything you need in a bank. As you can see from our latest video, we’re pretty sure that if we were you, we’d want to bank with Citizens too!

Mark Denn Promoted to President/CEO of Citizens Bank Minnesota

Mark Denn, President/CEO

Citizens Bank Minnesota is pleased to announce the promotion of Mark Denn to President/Chief Executive Officer. Denn joined Citizens, La Salle Branch, in 2000 as the Branch Manager. He is a 1987 graduate of Madelia High School, a 1992 graduate of the University of Minnesota, Morris and a 2003 graduate of the Graduate school of Banking at the University of Wisconsin. In addition to his banking career, Denn operates a corn/soybean farm near Madelia and serves on the Madelia Fire Department.

Dustan Cross, Citizens Board of Directors Chairperson, said in a statement, “The Board of Directors is excited to have Mark take over leadership of Citizens.  With his extensive banking experience and a personal agricultural background, Mark will be able to lead Citizens into the 21st Century with exciting new products and opportunities for its customers while continuing to maintain the integrity and professionalism that has distinguished Citizens throughout its history.”

Citizens has its home office in New Ulm and branch offices in Lafayette, Lakeville and La Salle, with total assets of $430 million.

Lou Geistfeld, President/CEO of Citizens Bank Minnesota Is Retiring After 38 Years Of Service

Lou Geistfeld, President and CEO of Citizens Bank Minnesota, will retire on Tuesday, December 31, 2019 after forty-four years in the banking industry; thirty-eight of those with Citizens.

Geistfeld, a native of Vernon Center, MN, began his career in 1975 as an Assistant Bank Examiner for the Federal Deposit Insurance Corporation and later became a Commissioned Bank Examiner. He joined Citizens in 1981 as an Assistant Vice President and was promoted to President/CEO in 1987. After his retirement from Citizens, he will remain an active member of the Board of Directors where he has served as a Director since August of 1987.

When Geistfeld joined Citizens, the bank had one main location in New Ulm, assets of $44 million and approximately thirty employees. Since becoming President in 1987, Geistfeld has been instrumental in growing the company through the acquisition of an insurance agency and the addition of three branch offices located in Lafayette, LaSalle and Lakeville, MN. Currently at ninety-nine employees, the company has grown to assets of $430 million. Bauer Financial, an independent bank research firm, has consistently rated Citizens a 5-Star financial institution for the past 30 years.

Outside of Citizens, Geistfeld has served the community in many roles through involvement with the City of New Ulm, New Ulm Area Chamber of Commerce, New Ulm Economic Development Corporation, New Ulm Area Community Fund, New Ulm Country Club, Rotary, New Ulm Jr. Baseball Association, Legion Baseball Committee, New Ulm Youth Football, New Ulm Basketball Association, and as a co- founder of the Eagles Baseball and Football Boosters.

Other accomplishments include serving on the Minnesota Bankers Association Board of Directors and the Minnesota Professional Sports Franchise Task Force, as well as being named Banker of the Year by Northwestern Financial Review in 2013.

Dustan Cross, Citizens Board of Directors Chairperson, said in a statement, “For over 35 years, Lou Geistfeld has been the face and soul of Citizens.  He has led the bank through every type of economic environment, and has always maintained safe and sound lending practices, while ensuring that Citizens is a leader in partnering with its customers in making their visions a reality.  He has deservedly gained the respect of his peers, the community and the Bank’s shareholders, directors, and employees through hard work, diligence, and the highest standards of integrity and honesty.  As Citizens moves forward into the 21st Century, his legacy and leadership will be evident in the senior management team that succeeds him; a team that he has fostered and trained for many years.  On behalf of the shareholders and Directors of Citizens, we wish Lou and Jean all the best and thank them for their innumerable contributions to our Bank and our communities.”

Citizens announced in January of 2019, that in anticipation of Geistfeld’s retirement, Mark Denn had been appointed Executive Vice President, and would take on the role of President/Chief Executive Officer beginning January 2, 2020. Denn is a 1987 graduate of Madelia High School, a 1992 graduate of the University of Minnesota, Morris, and a 2003 graduate of the Graduate School of Banking at the University of Wisconsin. He has been the manager of the bank’s office in LaSalle, MN since he started with the bank in 2000.

Lou Geistfeld, said in a statement, “I am grateful for the opportunity provided to me by the Board of Directors and stockholders of Citizens Bank Minnesota to serve as their CEO for the past 32 years. During that time, I have been blessed with the greatest group of dedicated and conscientious bankers that you could ever hope to work with and board directors that would always listen and consider new ideas. I will always be proud of what has been accomplished but more importantly, I am confident that our new management team will continue on the same path and continue to grow and improve Citizens. I am looking forward to retirement and that will be easier to do knowing that I left the bank in such good hands.”An Open House will be held on Friday, January 10, 2020, from 7:00 – 9:00 p.m. at the New Ulm Country Club in New Ulm. All friends, clients and well-wishers are welcome. Citizens would like to thank Lou for his dedicated service throughout the years.

Kevin Yager To Retire After 27 Years Of Service.

After twenty-seven years, Kevin Yager, Senior Vice President of Citizens Bank Minnesota, Lafayette Branch, will retire on Tuesday, December 31, 2019.

Yager joined Citizens, Lafayette Branch, in December 1992 as a Vice President, Agricultural Lender. He was a graduate of the Graduate School of Banking at the University of Colorado and was most recently promoted to Senior Vice President in January of 2019. Kevin is retiring with 44 years of Agricultural Lending experience including Crop Insurance Sales.

Outside of Citizens, Yager has served the community in many roles through involvement with the South-Central College Farm Business Management Advisory Committee, U of M Dairy Diagnostics Team, Chairman of St. Paul’s School Campaign Committee as well as various committees and boards at the school and church, and as a volunteer youth coach in baseball, hockey and softball. Yager has been a part of the Hub Club for 30 years, receiving the Service to Ag award in 2010, serving two terms as President of the Club and now serves as a Director on their Board of Directors as Event Chairperson.

An Open House will be held on Tuesday, December 17th from 2:00 – 4:00 p.m. in the Citizens, Lafayette Branch lobby. All friends, clients and well-wishers are welcome. Citizens would like to thank Kevin for his dedicated service throughout the years. Kevin and his wife, Cheri, will continue to reside in New Ulm after his retirement.

WooHoo! Checking – the account that makes your piggy bank jealous!

Does your checking account earn you little or no interest? Then you need Citizens Bank Minnesota‘s WooHoo! Checking account! With a great rate and FREE ATM’s, it’s the account that will have you shouting “WooHoo!”

Check out our website for full details! WooHoo! Checking

#WooHooItsWhatWeDo

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