A community bank built on relationships since 1905
Founded June 10, 1905, the First State Bank of New Market was originally located in a white-framed building in downtown New Market. It was razed in 1913 to make way for the brick building that today houses our Operations Center and previously our Elko New Market location. In October 1988, when we opened a new branch in Lakeville, we changed our name to New Market Bank. Our Prior Lake branch opened in 2007. In addition to growing our service area, we have expanded our services to include a full range of home loans and financial services.
New Market Bank and the Vogel Family
Since 1913, New Market Bank has been owned and operated by the Vogel family; first with Arnold Vogel, then his son Wilfred (Bill) and later his grandson Robert (Bob). Arnold, Bill, and Bob have been honored as 50-year bankers by BankIn Minnesota (formerly known as the Independent Community Bankers of Minnesota). In 2022, Bill celebrated 75 years in banking and his 100th birthday. In mid-May of 2023, Bill worked at his office in the Elko New Market Branch for the last time and then passed away one week later.
Today, Bob serves as chairman, his daughter Anita-Vogel Drentlaw as the fourth-generation president and CEO, and his daughter Karen Vogel-Ramola as VP of retail banking. Anita’s daughter Mikayla began working as a student teller in 2020.
A True Community Bank
Throughout our history, New Market Bank has been a true community bank built on relationships with our customers and our communities. The Vogel family and our dedicated team members are honored to serve alongside customers and friends to support neighbors, fuel the local economy and strengthen the communities where we operate. While we have adopted the latest in digital banking technology, we remain committed to building personal relationships with our customers as well as preserving our heritage as an independent, locally owned bank.