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MBT Bank
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Our Story

Since our beginning in 1945 as Farmers Bank & Trust Company of Crystal Lake, MBT Bank has always focused on improving the services offered to better the lives of customers and the communities we serve. As a community bank, the growth of MBT Bank from its inception, has stemmed from making fiscally responsible decisions while reinvesting in worthwhile organizations throughout our communities. 

MBT Bank has consistently offered customers the latest in bank technology and has incorporated insurance and investment services for a comprehensive financial experience. Though our products and services may have changed over the years, a few things have not:


MBT Bank will remain a strong community bank, continue to grow, reward our stockholders, and be a great place to work.


We will partner with our customers and communities to achieve their financial success.

Core Values:

Customer Service- it will be the first consideration in everything we do
Valued Employees- they are critical to our future
Honesty, Integrity, and Respect- with these we will conduct our business
Community Involvement- we will help our communities prosper & grow

Our History

1945: Bank was Chartered

In the early 1940s, Rush Gabrielson of Crystal Lake applied for a state bank charter after the failure of Farmers National Bank during the Depression. The Farmers Bank & Trust Company of Crystal Lake was chartered in 1945.

1967: Hanson & Cooper Purchases Bank

John K. Hanson and Elliott Cooper purchased Farmers Bank & Trust Company in March, 1967. The new owners changed the name to Manufacturers Bank & Trust Company.

1970: MBT moves to Forest City

February 2, 1970, the main office of MBT was moved to Forest City. The Crystal Lake location remained open until January 31, 2020.

1973: John K. Hanson becomes controlling stockholder

The most significant day in MBT history was marked as June 20, 1973. This day, John K. Hanson purchased his partner's interest and became controlling stockholder. John K. brought a keen interest in supporting the communities and surrounding area served by the bank toward growth and prosperity.

1986: Gold Club Founded

The club enjoys a membership in the excess of 1,000 and growing. It it has provided a unique opportunity for fellowship, travel, and information for this segment of MBT customers.

1993: MBT Too is Built

Due to the rapid growth of the bank, MBT Too was built and opened in 1993. It houses MBT Insurance Agency and our Forest City loan officers and loan support staff.

1996: John K. Hanson Passes Away

Upon his death, John K. Hanson left a great legacy to the North Iowa area. Bank ownership was now left to his children, Mary Jo (Hanson) Boman, John V. Hanson, and Paul D. Hanson.

2000: John V. Hanson becomes Chairman

In January 2000, John V. Hanson succeeded his mother, Luise Hanson, as Chairman of the Board of MBT. He is the former President of Winnebago Industries.

2001: MBT purchases Lake Mills & Clear Lake branches

September 2001, MBT purchased two offices, Lake Mills and Clear Lake, from Commercial Federal Bank. With this expansion, MBT welcomed 20 new employees.

2012: MBT Opens New Branch

In April 2012, MBT opened a new branch office in Rochester, MN just west of St. Mary's Hospital.

2021: MBT purchases 2 Minnesota banks

September 2021, MBT purchased Citizens State Bank of Hayfield and Farmers & Merchants State Bank of Blooming Prairie. With this expansion, MBT welcomed 47 new employees, adding branch locations in Austin, Blooming Prairie, Dodge Center, Hayfield, and Mantorville. 


Today, MBT is a full-service bank with ten offices, complete with deposit and loan functions, MBT Investment brokerage service and MBT Insurance Agency.

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Where will you go with MBT?

Make transfers and access accounts from anywhere at any time. 

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