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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. 

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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. 

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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.

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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.

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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.

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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.

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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%.

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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. Its also an intensely emotional decision.

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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.

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First Independent Bank and United Southwest Bank Announce Merger

 First Independent Bank, Russell MN, and United Southwest Bank, Cottonwood MN announced the signing of an agreement to merge. Completion of the transaction, which is currently expected to occur by the end of 2021, is contingent upon regulatory approval.

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