21st Century Bank Quick Links
About Us
Modern Banking. Personalized Service. Trusted Experience.
Founded in 1917, 21st Century Bank began its modern chapter in the late 1970s when Thomas P. Dolphin acquired a controlling interest in what was then Farmer’s State Bank of Cedar. From that point forward, the bank grew from a small community institution into a multi-location organization serving customers throughout Minnesota.
Today, with more than $880 million in assets, we remain grounded in the same belief that banking should be personal. We take the time to understand the goals of the individuals, businesses, nonprofit organizations, and public entities we serve, and we offer solutions designed to support their success.
Our customers benefit from the strength and capabilities of a larger institution, paired with the accessibility and responsiveness of a local banking partner. Whether you need everyday banking support, cash management tools, lending expertise, or long-term guidance, our team is committed to helping you move forward with clarity and confidence.
We are proud of our history, encouraged by our growth, and grateful for the relationships that continue to shape who we are.
21st Century Bank, Local Expertise and an MN SBA Preferred Lender.Â
Our Leadership Team
Our History
At 21st Century Bank, we know what it takes for businesses to survive, thrive, and prosper in today’s market. We’re your community partner, founded in 1917. As a family-owned bank, we know business is personal.
We like to think of ourselves as large enough to provide diverse financial solutions but small enough to deliver personal service with a handshake and commitment. We tailor solutions and respond to your unique business and banking needs.
1917
In 1917, Farmer’s State Bank of Cedar began operations. The Bank was located in Anoka County on the main railroad stop between Minneapolis and Duluth and served a rural agricultural community. This was on of the few banks in Minnesota to survive the Great Depression.
1976-1979
Thomas P. Dolphin purchased a controlling interest in Farmer’s State Bank of Cedar and changed the name to Crosstown State Bank of Cedar. During this period, the $3.5 million banks expanded by opening two additional locations, one in St. Francis and one in Blaine, MN.
1980-1981
By 1980, the Bank had grown to $10 million in assets, and the charter was moved from Cedar to Ham Lake. The Crosstown Holding Company was formed in 1981 to hold the existing bank charter, which was now known as the Crosstown State Bank of Ham Lake.
1982-1996
The Bank grew from $10 million to $70 million in assets. In 1996, Crosstown Holding Company purchased the 21st Century Bank in Balaton, MN, and with this acquisition, total assets increased to over $150 million. Crosstown Holding then operated two bank charters, one known as 21st Century Bank North with offices in Blaine and Ham Lake, and the other 21st Century Bank with offices in Mankato, Tracy, and Balaton.
1998-1999
In 1998 and 1999, the Bank opened a location in Rogers by moving the 21st Century Bank charter there. A second location was also opened in Blaine. The locations in Tracy and Balaton were sold in 1999 in order to focus on lending within the greater Twin Cities Metro Area.Â
2004
By 2004, the Bank had grown to nearly $200 million in assets. While it sold off its Mankato office in 2004, the combination of loan growth and the purchase of the State Bank of Loretto propelled it to the $200 million size. With this purchase, the Bank Charters were consolidated into one charter, known as 21st Century Bank, and that charter was moved to Loretto.
2004-2007
From 2004 to 2007, the Bank experienced record growth and earnings, with assets growing to $380 million. In late 2007, the Bank opened a location in downtown Minneapolis. The Bank now operated out of six locations in total; two locations in Blaine, and one location each in Ham Lake, Rogers, Loretto, and Minneapolis.
2007-2019
Through strong leadership and lasting client relationships, 21st Century Bank weathered the Great Recession, which ended in 2014, and has continued to grow steadily ever since. During this period, total assets surpassed $500 million. To better serve our clients, we closed the Blaine 242 office, opened a new branch in Lilydale, and established a Loan Production Office in Burnsville. The Bank has remained a consistent top performer in Minnesota’s SBA lending market, and in 2019, we proudly celebrated ranking as the #2 SBA 7(a) Lender and the #1 SBA 504 Lender in the state.
2020-2023
Amid the challenges of the COVID-19 pandemic, 21st Century Bank continued to grow—opening two new locations in 2020: a branch in Roseville and the relocation of our downtown Minneapolis branch to Riverplace. Both sites offer full-service commercial and consumer banking to our valued clients. Since then, total assets have grown to more than $880 million, and the Bank continues to be a leader in Minnesota Small Business Administration (SBA) lending.
2023-Present
In 2023, 21st Century Bank proudly secured the naming rights to Rogers Community Center—now the 21st Century Bank Event Center—and opened a newly constructed branch at 21340 136th Ave N. Having been part of the Rogers community for more than 25 years, we’ve witnessed its tremendous growth and remain deeply committed to supporting its future. Continuing that spirit of service, in 2025 we expanded our presence in the southern Twin Cities area by relocating our operations from Lilydale to a new full-service branch in Eagan, Minnesota in November 2025.
21st Century Bank Locations
Proudly serving the community for more than 100 years, 21st Century Bank is a leader in small business lending in Minnesota with $880 million in assets.
Here For You
Supporting the Growth of Your Business
Learn more about us at 21st Century Bank and what we can do for you and your business.