Agriculture

At MinnStar Bank, we understand that farming is not only a way of life, it’s a business. We are here to help meet the current financial needs of your farm business, as well as assist with planning for the future of your farm operation. MinnStar Bank offers a complete line of agricultural banking services, including annual operating loans, term loans for machinery, equipment and livestock facilities, loans to finance renewable energy investments and real estate loans. Our expert loan officers, Kent Thiesse and Joseph O’Sullivan are here to assist you with all your agriculture credit and financial needs.

Checking

Star Club Checking

With MinnStar Bank’s Star Club Checking account, you can take advantage of no minimum balance or per debit fee. The $9.00 monthly fee offers personalized checks (limited to one style), copying services, gift envelopes and unlimited check writing.

Minimum Balance Checking

With a Minimum Balance Checking account you are required to maintain a $100.00 minimum balance to avoid a minimum balance fee and a per debit fee. If the daily balance drops below $100.00 any day of the month, a monthly minimum balance fee of $7.00 and a per debit fee of $0.25 is charged for the entire statement cycle.

Interest Checking

A Interest Checking account with MinnStar Bank pays you interest for the average daily collected balance and adds the interest to your account balance on the statement cycle date. When you maintain the $500.00 minimum balance, you avoid a monthly minimum balance fee and a per debit fee. If the daily balance drops below $500.00 any day of the month, a monthly minimum balance fee of $10.00 and a per debit fee of $0.25 is charged for the entire statement cycle.

Senior Checking

If you are age 55 or over, you are eligible for MinnStar Bank’s Senior Checking account. There is no minimum balance requirement, no monthly fees and no charge for check writing and debits. Personalized checks (limited to one style) are at no charge.


Operating Lines of Credit

MinnStar Bank offers very competitive Agriculture Operating Lines of Credit to finance both crop and livestock farming operations. We will work with farm operators to prepare an annually updated FINPACK Financial Analysis on their farm operation as part of the annual loan renewal process. This is very beneficial to farm operators in helping manage their farm business. We also offer special financial incentives to farm operators that enroll in the South Central College Farm Business Management Programs. For more information contact:

Kent Thiesse, Lake Crystal
kent.thiesse@minnstarbank.com

Joseph O’Sullivan, Lake Crystal
Joseph.osullivan@minnstarbank.com

Tom Evensvold, Lake Crystal
tom.evensvold@minnstarbank.com


Term Loans

MinnStar Bank offers a variety of Agriculture Term Loans to finance farm machinery and equipment purchases, new or remodeled grain or livestock facilities, investments in renewable energy and tile drainage upgrades. These term loans have competitive interest rates and are set up with loan provisions that meet the farm operator’s farm business needs. For more information contact:

Kent Thiesse, Lake Crystal
kent.thiesse@minnstarbank.com

Joseph O’Sullivan, Lake Crystal
Joseph.osullivan@minnstarbank.com

Tom Evensvold, Lake Crystal
tom.evensvold@minnstarbank.com


Real Estate Loans

MinnStar Bank offers excellent Real Estate Loans to assist farm operators and others with purchases of tillable farm land, assist farm families with purchasing farm sites or making improvements to family homes or other farm buildings. MinnStar Bank Real Estate Loans offer competitive rates and are set up with terms to meet the needs of the farm customer. For more information contact:

Kent Thiesse, Lake Crystal
kent.thiesse@minnstarbank.com

Joseph O’Sullivan, Lake Crystal
Joseph.osullivan@minnstarbank.com

Tom Evensvold, Lake Crystal
tom.evensvold@minnstarbank.com


Business Spotlight

Dunkin’ Donuts

Dunkin’ Donuts

Dunkin’ Donuts officially opened on March 29, 2017, but MinnStar Bank N.A. worked with Dave Schooff and Oliver Schugel for nearly 18 months prior to make it a reality. “The process from start to finish had multiple steps and many layers. Our ability to work in and around those facets is one of MinnStar Bank’s strengths. It separates us from others,” says Mark Monson, Vice President, MinnStar Bank. “My relationship with Dave goes back a number of years and I think he understood that being a little creative was the key to getting this venture up and off the ground. He and Oliver trusted MinnStar to deliver and we did.” Learn more

Innovation

Equifax Data Breach

Equifax Data Breach

Last week. Equifax, one of the nation’s three largest credit bureaus, disclosed that it was subject to a massive data breach – one of the worst in the nation’s history. By the company’s own admission, the breach affects as many as 143 million Americans or roughly half of the U.S. population. This constitutes a much larger share of Americans with a credit history.

According to the company’s press release, “(t)he information accessed primarily includes names, Social Security numbers, birth dates, addresses and, in some instances, driver's license numbers.” Not only are consumers at risk, but their banks are put at significant financial risk from harm caused by fraudulent loans taken out by cybercriminals. Learn more

Starting Up

Writing a Business Plan

Writing a Business Plan

A written plan for launching and operating your business is essential for success and should be the first step in your new venture. A well-written and prepared business plan should describe the business: its products or services, market, people and financing needs. Learn more

 

Meet the Banker

Karen Ahrenstorff

Karen has been in the banking and finance industry for over 34 years. As a compliance officer, Karen is responsible for keeping up to date with any changes or new banking regulations and implementing changes.

Learn more