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About Us


When Christopher Borgerding ventured out to open a community bank in 1889, his key to success was built on family values and traditions. Four generations later, the Borgerding family continues to prioritize these family values as they offer the best in community banking at North American State Bank to the communities they serve.

North American State Bank has grown significantly since its establishment. From a single bank in Belgrade, it has now expanded to three banking locations in Belgrade, Elrosa, and Willmar. By having three locations, North American State Bank is able to better serve and benefit the communities of west central Minnesota.

North American State Bank offers full-service banking and insurance. We exist to serve the needs of our customers, communities, employees, and investors. We are committed to the ideal of community banking, which has been passed on from generation to generation. We are proud of our local ties and rich community-oriented traditions dating back to 1889. Four generations later, North American State Bank continues to thrive in the rapidly evolving financial services environment because our vision is guided by the values and traditions established by its founder over a century ago.

Our History

The Borgerding family has operated North American State Bank for four generations. The bank began in 1889 by Christopher Borgerding as the Bank of Belgrade. In 1905, the bank's name was changed to its current name, North American State Bank.

Christopher served as president of the young bank for over 40 years when his son, Henry Borgerding was named president. The son remained president until 1985, however he continued to work as an employee until his death at the age of one hundred years. Henry's brother, Alphonse, was also a life-long employee in the family banking business. It was Alphonse's son, George Borgerding, who assisted Henry in the duties of the bank's presidency in the 1970s and 1980s until he later became the bank's president in 1985. George held this role until 2001, when his son, Brian Borgerding, was named president of North American State Bank.

North American State Bank of Elrosa began as the Elrosa State Bank. Once again, Christopher Borgerding realized the need for residents of the town to have their own banking office and he founded the Elrosa State Bank in 1919. He later asked a well-respected Elrosa citizen, Math Bauer, to operate the banking office.

In 1967, Jerome Bauer, Math Bauer's son, became manager of the office. On Jerome's death in 1973, his son David Bauer became the third generation of the Bauer family to manage the Elrosa State Bank.

Elrosa State Bank and North American State Bank merged on May 1, 1994, where David Bauer continued the family banking tradition as senior vice president until his retirement in 2010.

North American State Bank opened a third office in Willmar in September of 2003. This temporary office was opened in an effort to better serve our existing customers, and to expand our growth in the Willmar area. Land was also purchased at the intersection of First Street and 28th Avenue where the current facility at 2800 South First Street now stands. Built as a Financial Center, North American opened the doors to their permanent location on December 1, 2006. The Willmar office continues to grow as we make relationship banking and community partnership our number one priorities.