About Us

Modern Banking With A History of Success

At 21st Century Bank, we are many things. We are a family-owned since 1961. We are a Top 10 Minnesota SBA preferred lender. We hold just under $700 million in assets. But above it all, we are here for you.

Whether you’re an individual looking to open a checking and saving account, or you need robust accounting services to support your small business, our team at 21st Century Bank is small enough to know you and big enough to help you reach your financial goals and beyond. We do this by focusing on you, your personal and business aspirations, and then we tailor our services with recommendations we believe will help you take the next step forward.

Ranked as one of the top SBA lenders in Minnesota, being a leader means we’re also focused on community. One of our greatest pleasures is helping small businesses across the state start, grow and prosper through smart, robust, modern banking services. We also wouldn’t be the bank we are today without the individuals and families who choose to trust us with their personal banking needs.

So when people ask us who we are, well, that’s a tough thing to answer. Because for everything that we are, it comes down to just being thankful to you. Our customers. Our clients. Our community partners.

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Our Leadership Team

Thomas Dolphin Headshot | 21st Century Chief Executive Officer / Chairman of the Board | Business Banker | Business Lender

Thomas Dolphin

Chief Executive Officer
Chairman of the Board

Michael Gallagher Headshot | 21st Century Senior Vice President, Business Development & Business Banking | Business Banker | Business Lender

Michael Gallagher

Chief Deposit Officer

Sarah Nelson Headshot | 21st Century Chief Operating Officer | Business Banker | Business Lender

Sarah Nelson

Chief Operating Officer

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 one of the few banks in Minnesota to survive the Great Depression.

black and white image from the early 1900s showing horse-drawn carriages
• 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 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.

• 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.

1998 – 1999
• 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.

• 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
• 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
• 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.

2020- Present
• 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.

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1998 – 1999
2004 – 2007
2007 – 2019
2020- Present
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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.

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.

Send Us An Inquiry

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