business customer on debit card


Business Checking Accounts

Simple Checking

  • $100.00 minimum deposit to open account
  • No minimum balance requirements
  • Free Online & Mobile Banking with easy-to-use apps for Smartphones and other devices
  • Free Mobile Remote Deposit Capture for registered Online Banking users
  • Free Bill Pay Services for registered Online Baking users
  • Free MasterCard debit card
  • Free direct deposit
  • Unlimited check writing
  • No charge for E-Statements ($5.00 monthly for fee paper statement)
  • Free starter pack of basic checks provided upon account opening


Now Account

  • $1,000.00 minimum to open
  • Must present two forms of ID, one with picture
  • Interest-bearing account, please inquire for current rates
  • Customers will receive their first box of checks FREE (*select styles available)
  • Service Charges
    • $12.00 charge every statement cycle if account balance falls below $1,000.00
    • A withdrawal charge of $2.00 for each withdrawal of any type in excess of 3 during a statement cycle
    • A negative balance charge of $5.00 for each day that account has a negative balance after the 3rd consecutive day of overdraft

Waive of Service Charges for Churches, Public Funds, Senior Citizens (62), Military Personnel, Full- Time Students (12-hour minimum), and Minors.


Business Savings

Passbook Savings Account

  • $100.00 minimum deposit to open account
  • Interest compounds and is credited quarterly
  • A service charge fee $10.00 will be imposed every quarter if the balance in the account falls below $100.00 any day of the cycle.
  • Transfers from a savings account to another account or to third parties by preauthorized, automatic, telephone or computer transfer are limited to six per month with no transfer by check, debit card, or similar order to third parties
  • A withdrawal charge fee of $2.00 will be charged for each withdrawal of any type in excess of three during the month
  • Account closed within 90 days of closing will have a $50.00 fee
  • Free E-Statements ($5.00 quarterly fee for paper statements)


Business CD’s

Certificates of Deposit

  • $1,000.00 minimum to open
  • Interest compounded or checks issued monthly, quarterly, or semi-annually
  • Penalty for early withdrawal

* Add .05% for deposits $20,000 – $49,999

* Add .10% for deposits $50,000 and over

Please call for current rates


couple signing a paper

Business Loans

Commercial Loan Services

The First State Bank of Olmsted offers a variety of loans to meet your commercial business, or agricultural needs.  We offer competitive rates and flexible terms.  Our lending team consists of local bankers with strong community ties.  We guarantee a timely loan response, with decisions made right here at home!  We invite you to contact one of our loan officers to discuss the best borrowing option for your needs.


Agriculture Loans

  • Real Estate
  • Farm Equipment
  • Livestock
  • Operating Line of Credit


Main Office     618-742-6205

Steve Waters

NMLS #806675


Lee Essex

NMLS # 806677



Ali Rose

NMLS #2180758

Our staff is extremely knowledgeable in the agricultural market, call with any questions!


We are  very supportive of the businesses in our  community, call to see what we can do for you!


Mounds Branch          618-342-6200 


Commercial Loans

  • Real Estate
  • Equipment
  • Inventory
  • Revolving Line of Credit


Vienna LPO                 618-658-2211

Steve Waters

NMLS #806675



Marcy Capron

NMLS #2378713