Deerwood Bank has been a partner in Northern Minnesota's progress since 1910. The bank is committed to providing the best in financial products and services, and will search for creative solutions to your needs.
The First National Bank of Deerwood, commonly known as Deerwood Bank, was incorporated in 1910 in Deerwood, Minnesota (pop. 590). Deerwood was then a newly incorporated village along the Northern Pacific Railway that was growing rapidly since its beginning in 1872. Located in Northern Minnesota with a plentiful supply of building materials and fuel from surrounding forests along with abundant game and lakes, attracted many to settle permanently or visit the developing resort industry.
Deerwood Bank acquired the Grand Rapids office of MidCountry Bank in June 2008. Grand Rapids is similar to Brainerd and Bemidji markets as it is also a regional recreational, medical, retail and educational hub which is located approximately 75 miles northeast of Brainerd.
Deerwood Bank continues to be a community based bank. In September 2008, Deerwood Bank acquired the Baxter office of Midwest Bank and in December 2008 relocated our Brainerd office to East Brainerd.
