Blog
First Independent Bank and Citizens State Bank of Tyler, Inc. Announce Merger
First Independent Bank, Russell MN, and Citizens State Bank of Tyler, Inc., announced the signing of an agreement to merge. Completion of the transaction is scheduled for May 31, 2022.
Please Welcome New Bankers in Our Cottonwood and Vesta Locations
We are excited to introduce two new bankers who have joined our team through the merger with United Southwest Bank!
4 Types of Commercial Loans for Growing Your Business
We know that cash flow rises and falls when it comes to your business. Sometimes a commercial loan is what you need to move your business forward, whether that’s so you can hire more employees, make improvements to your store, or buy new equipment.
What You Need to Know Before Buying Your Dream Fixer-Upper
In the current hot housing market, many people are thinking about buying homes that need some work. But is buying a fixer-upper right for you? Here are the pros and cons of buying a house that needs renovations.
5 Helpful Tips for Beginning Minnesota Farmers
Did you know that 25% of all farmers are beginning farmers (in business less than ten years); their average age is 46 (source: Farm Bureau). In Minnesota, we rank fifth in the nation in agricultural production, and our top five agricultural commodities are soybeans, corn, livestock products, wheat, and processed vegetables.
Steps to Take to Get Preapproved for a Mortgage
Knowing your home buying budget and the loan amount you will qualify for is an important part of the search process when you’re in the market for a new home. That’s where mortgage preapproval comes in. Getting preapproved for your mortgage can help give you confidence and show you are a serious buyer in a competitive housing market.
First Independent Bank Announces New President and Employee Promotions
On February 8th, 2022, the Board of First Independent Bank elected Thomas Koerber as President. Tom has currently been serving as Executive Vice-President and Chief Credit Officer. He has been in banking since 1987, with First Independent since 2017, and served as Chief Credit Officer of First Independent Bank’s sister Bank, Northview Bank, from 2005-2017.
Should You Lease or Buy Your Farm Equipment?
To make the best decision when evaluating whether to buy or lease ag machinery for your operations, it’s essential to understand the factors affecting the economics and compare the financial aspects of each option.
First Independent Bank: The History Behind Our Russell Location
At First Independent Bank, we can trace our history back over 100 years. As such, we thought it might be fun to share some history and the story behind our Russell location.
How a Business Line of Credit Can Help You Stay Competitive
A business line of credit is a flexible form of financing that is used by many small businesses. It can be accessed as needed (as long as you haven’t hit your credit limit and it is used for approved expenses), similar to a credit card, but has many advantages over a credit card.
How a Debt Consolidation Loan Can Help You
Credit card debt can be frustrating, overwhelming, and feel impossible to pay off. It’s also expensive! The average credit card interest rate is around 16%.
Five Warning Signs That Your Dream Home Might Not Be So Dreamy
House hunting can be fun and exciting, especially when you think you might have found the home of your dreams. It’s also an intensely emotional decision.
4 Tips That Can Help You Get a Commercial Loan
If you’re looking for a commercial or business loan for your small business, you’ve come to the right place. Here are four of our best tips that can help you get a commercial loan.
Swine Farm Loans and Pig Farm Financing at First Independent Bank
As a livestock farmer, you have dreams and plans for your operation. You have the know-how to get the job done. What you might need is a partner for financing your growth and expansion.
Five Key Steps to Take Before Getting a Business Loan
As a small business owner, you probably have big plans. Sometimes a capital injection is helpful, though, when it comes to starting or expanding your small business. A business loan can help. Here are five key steps to take before getting a business loan.
4 Bad Financial Decisions That Can Hurt Your Small Business
Managing finances can be a challenge for small business owners. You might be an expert in making your product or providing a service, but managing your business finances is a significant part of small business success.
Dreaming of Recreational or Hunting Property?
Have you dreamed of owning recreational or hunting property? Many people buy recreational land to enjoy hunting, camping, fishing, hiking, or ATV-riding on the privacy of their own property. Owning recreational land can give you a unique opportunity to escape the pace of daily living and provide you with a chance to enjoy the many benefits of being out in nature.
Two Questions to Ask When Considering a Business Expansion Loan
Expanding your small business can help ensure you stay competitive and in business. Recent research found that 82 percent of small businesses fail due to lack of capital (cash flow), and 55 percent of small business owners cite cash flow as the number one challenge to growing their businesses.
3 Terrific Last-Minute Family Vacation Ideas On a Budget
Summer is almost here and many people are ready to get out and enjoy a relaxing summer vacation this year. If you haven’t planned a trip yet, we’ve got some last-minute family vacation ideas that can fit many budgets.
Convenient Business Services for Every Business Owner
At First Independent Bank, we focus on providing the very best tools and resources to our members. Whether you're exploring options or expanding your business operations, our suite of business loans, financial services, and professional expertise can help your small business reach its goals.
Three Fun Things You Can Do with a Recreational Loan
If you’re ready to plan your next adventure, we’d like to help! At First Independent Bank, we have helped countless people enjoy their leisure time by providing recreational loans. Our recreational loans are designed to help you and your family get the most of your time off without “breaking the bank.”