About Us

Business Solutions Tailored For You!

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.

We rank among the top five lenders in the state!

A top 10 MN SBA preferred lender, 21st Century Bank is a leading, full-service commercial bank offering tailored personal and business banking products and services.

Distinguished by the SBA as an “SBA Preferred Lender,” the U.S. Small Business Administration’s Minnesota District awarded 21st Century Bank the top spot in our asset size ($500 million to $1 billion). For the third year in a row—21st Century Bank is the #1 MN SBA 504 TPL in Minnesota and number #3 SBA 7(a) lender.

21st Century Bank has locations in Rogers, Loretto, Minneapolis (Riverplace), Ham Lake, Blaine and Lilydale, and Roseville. Proudly serving the community for more than 100 years, 21st Century Bank is a leader in small business lending in Minnesota with more than $600 million in assets.

Learn more about us at 21st Century Bank and what we can do for you and your business—contact us today!

Our Leadership Team

Thomas Dolphin

Chief Executive Officer
Chairman of the Board

Jonathan Dolphin


Michael Gallagher

Chief Deposit Officer 

Sarah Nelson

Chief Operating Officer

Our History

– 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 one 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 bank expanded by opening two additional locations, one in St. Francis and one in Blaine, MN.

1980 – 1981

By 1980, the Bank grew 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.

Ham Lake - 17635 Central Ave NE
Blaine - 9380 Central Ave NE

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, the other 21st Century Bank with offices in Mankato, Tracy, and Balaton.

Rogers - 21660 S Diamond Lake Rd
Lexington/35W - 4125 Ball Road NE, Blaine

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.

Loretto - 699 North Medina Street

– 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 to one charter, known as 21st Century Bank, and that charter was moved to Loretto.

Minneapolis - 17 Washington Ave N (this location is closed- with a new branch located in Riverplace)
12301 Central Avenue NE, Blaine (This location is now closed)

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

The Bank survived the Great Recession, which ended in 2014, and has been growing at a strong pace since that time. In this timeframe, total assets have grown to over $500 million. The Bank closed its Blaine 242 office but added additional locations in Lilydale and a Loan Production Office in Burnsville and is consistently a top player in the SBA Lending market in Minnesota. In 2019, we celebrated being the #2 SBA 7(a) Lender and the #1 SBA 504 Lender in the State of Minnesota.

Lilydale - 991 Sibley Memorial Hwy. Suite 207

2020- Present

Despite a challenging year throughout the world, we opened two locations – one in Roseville, at 2335 Highway 36, and in October of 2020, we relocated the 17 Washington Ave branch location to 43 Main Street SE (Riverplace) offering full-service commercial and consumer banking.   

Minneapolis - 43 Main St. SE Suite 144 (Riverplace)
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