About Roundbank

For more than 136 years the Roundbank organization has been serving the Waseca community, focusing on the needs of its customers and our commitment to service. We extended this commitment to the Waldorf community in 1992 by acquiring the Waldorf State Bank and to the Farmington community in 1997 by opening a downtown office, which we expanded in 2006 by constructing a full-service banking office, and to the New Prague community in July 2010 with the acquisition of Community Security Bank..

Our approach is simple. Our employees truly care about their customers and communities. They have a genuine desire to make a difference with practical solutions and service levels that surpass expectations. Our financial service professionals reduce the complexity of financial decisions by offering concise information, innovative yet practical products, and unparalleled service. 

We have a culture that values relationships, seeks continuous improvement, and is committed to the highest form of customer service. Our employees provide added value by providing practical recommendations and solutions to financial problems. We are responsive and sincere in helping our customers achieve their financial goals. 

We do recognize the world is changing and we have changed with it--by enhancing security and the speed with which we deliver our services. Yet, what we have not changed is our commitment to you and the focus on meeting your needs with a simple and competent approach. 

There is a difference at Roundbank. A difference you will notice the moment you pass through our doors. I invite you to experience the difference at Roundbank. We have been positively impacting peoples' lives since 1881. We want to be your bank.

Our History

Over the years, the bank has prospered as an independent full service community bank. Largely because of its loyal customers and a staff dedicated to outstanding customer service and positively impacting peoples' lives, Roundbank has grown to be the largest bank in Waseca County.

1881 – Originally chartered as The People’s Bank of Waseca. Initial capitalization was $25,000. There were two other banks in Waseca at that time; the Waseca County Bank and Bank of Waseca. The original building is now occupied by Four Seasons Athletics.
1900 – The Name was changed to The People’s State Bank of Waseca.
1907 – A new bank building was built for approximately $28,000 including the land. That building is located on the corner of State Street and 2nd Avenue Northwest and is currently occupied by EF Johnson. This building also provided space to the U.S. Post Office.
1908 – The bank was rechartered as a national bank known as The Farmer’s National Bank of Waseca.
1931 – The bank was purchased by First Bank Stock Corporation, now US Bancorp.
1931 – First State Agency begins selling insurance products.
1936 – The bank took over liabilities and selected assets of the Security State Bank of Waseca which went out of business. Security State Bank was located in the building now occupied by Barden’s Bar.
1971 – The bank again was rechartered as a state bank and known as The First State Bank of Waseca. The bank moved to its current location at 200 2nd Street Northeast. During the late 1970’s the bank became part of a new corporate identification of First Bank System, now US Bancorp.
1987 – The bank was purchased from First Bank System by the Erickson family and local directors and management group. It continued as The First State Bank of Waseca but adopted the service mark of “The Roundbank” after the building’s unique architecture.
1988 – Acquired the Arveson Agency of Otisco.
1989 – First State Agency purchased the New Richland Agency.
1992 – Purchased the Waldorf State Bank through merger and continued to operate the Waldorf office as a full service branch.
1992 – Acquired the Waldorf Insurance Agency at the same time of the Waldorf State Bank purchase.
1993 – Legally changed the name of the bank to Roundbank.
2003 – First State Agency, a full service insurance provider with common shareholders, changed its name to Roundbank Insurance Agency.
2006 – Roundbank expanded in Farmington with a full service community bank. 
2006 – Roundbank Insurance Agency buys the Krienke Agency.
2010 - Acquired Community Security Bank in New Prague