First State Bank of Rosemount celebrates big remodel with Sept. 8 public reception
The family who runs Rosemount's First State Bank invite all to come celebrate the bank's new renovations.
"We are all about building relationships that last and we have third- and fourth-generation customers, and customers whose grandparents, parents and now kids bank with us," said Mark Toombs, president of First State Bank of Rosemount.
The bank remained open during the nearly year-long interior and exterior remodel that began in September 2016. The remodel will be celebrated during an all-day reception Friday, Sept. 8.
The bank is the oldest Rosemount business, founded Oct. 9, 1909, by Seivert Netland. The original bank location was housed on property where a day care now operates in downtown Rosemount.
The current bank location building was completed in March 1960. In the 1970s, the bank added a mobile, drive-up space. In 1978 the bank building underwent a major remodel to add a new half to the bank building.
In 1978, Toombs said his father Dave Toombs was the bank president. He loved working so much that there was a running joke and a photo to show his father's passion for work. The photo shows an outdoor office space for his father during the bank's first major remodel.
Today the bank's renovations show a handsome, modern bank lobby to welcome customers. Warm, deep brown and tan shades cover the walls, woodwork and carpet. The original bank vault door carries more than a century of history. Today the silver vault gives the space a modern, industrial look and serves as a functional design feature.
An updated brick façade covers the original bank fireplace in the lobby. A piece of artwork shows Rosemount's train depot from years ago. This framed painting hangs over the fireplace that was painted by local artist Dave Allen, a beloved Rosemont teacher.
"As a tie in to old and new, we did that," Toombs said, proud to show all the design details of the new bank building remodeling project.
The bank employs 16 people, and more than half are family
"We are proud to say that we employ 16 employees and more than half are family," Toombs said, in the spirit of a true family owned and operated bank.
Today the fourth generation is his nephew Matt Toombs who works as a loan officer at the community bank.
The original bank's heritage was made up of brothers who became partners. Then Toombs' grandfather and father ran the bank.
"When my grandpa passed away in 1970, my Dad was only 32 years old and when my grandfather died expectantly, my father and brother ran it and took it over and managed the bank day to day," Toombs said.
Passing down a family-owned business is rare today, Toombs said.
"They say after the third generation, it is usually only about a three percent likelihood that the third and fourth generations will run the business because it usually ends up being they sell it off or they have no interest in running the business," he said.
Prior to suffering a heart attack, Toombs said his father worked hard and happily 40 hours a week.
"He enjoyed it and he did not have any hobbies," he said. When his father suffered a heart attack, he needed quadruple bypass surgery and was never able to come home.
Toombs said his father's values and legacy are living in the bank and serve as a roadmap for how the family chooses to run the community bank. Toombs said he always contemplates his father's ways and keeps those thoughts close at mind and heart when he makes decisions.
The family decided to wait two years to design the bank interior and exterior remodel. Last year they were so happy to celebrate the formal groundbreaking.
"We picked out colors that parlay with earth tones and give our bank a homey looking and more comfortable feel and we wanted to make sure things were more private," Toombs said.
First State Bank of Rosemount works to build lasting relationships that will grow in year to come and always welcomes new customers to join the banking family.
They are looking forward to the Sept. 8 public reception.
"In the morning we will have an open house with coffee and donuts, at lunch time will we have Carbone's pizza, and later that day we will be serving Culver's custard ice cream and we will have a face painter outside," Toombs said.
In the next decade, Rosemount's population may grow to 40,000 or even 50,000 residents, he said.
"As our business model changes, we are more mobile and meet our customers' banking needs as our world is changing to meet technology in the future," he said. "We want to call all our customers by first name because that is really what we are all about — our tagline is building relationships that last."