pen and check



Personal Checking Accounts

FSBO Free Checking

  • No minimum balance required to open the account
  • No monthly service fee
  • Unlimited Check Writing
  • Free Online/Mobile Banking & Bill Pay
  • Mobile Deposit available
  • Free e-Statements
  • Free Debit Card
  • Service Charge
    • A negative balance charge of $5.00 for each day that account has a negative balance after the 3rd consecutive day of overdraft

Basic Checking

  • $200.00 minimum deposit to open account
  • $300.00 minimum balance required to avoid service charge
  • 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
  • No charge for E-Statements
  • 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 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.


Please Notice: Each time a check or debit is presented and you do not have sufficient funds to cover this item you may be charged an insufficient fee for each presentment.


Personal Savings Accounts

Passbook Savings Account

  • $200.00 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 pre-authorized, 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


Personal 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


Club Accounts

FSBO offers Vacation & Christmas Club accounts. These accounts are free of charge and have a very easy set up process. It’s never too late in the year to get started! Stop by our main office in Olmsted or our branch in Mounds to set up today.

  • $5.00 Minimum deposit at account opening
  • Must have a checking or savings account with FSBO for monthly transfer purposes
  • Interest will be compounded monthly and credited to your account annually
  • Desired amount will be transferred from the deposit account into the Club Account monthly.
  • At payout, funds will be transferred into the specified deposit account
  • No withdrawals permitted before annual payout date


hands holding a small house



Consumer Loans

Personal & Home Loans

The First State Bank of Olmsted offers a variety of loans to meet personal 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 borrowing option that is right for you.

Personal Loans

  • Automobiles
  • Motorcycles
  • Recreational Vehicles
  • Household Purchases
  • Personal Expenses

Home Loans

  • Home Purchases
  • New Construction
  • Refinancing
  • Second Mortgages
  • Home Equity Loans

*All mortgage loans are serviced in-house.  Secondary market financing is available.


Contact any of our Loan Officers today!

Main Office     618-742-6205

Steve Waters

NMLS #806674


Lee Essex

NMLS #806677


Ali Rose

NMLS #2180758



Mounds Branch          618-342-6200 


Vienna LPO                 618-658-2211

Steve Waters

NMLS #806674


Marcy Capron

NMLS #2378713



opening a safety deposit box


Safe Deposit Boxes

Come in to Olmsted today to open a Safe Deposit Box!

We have multiple sizes available:

  • Size 3×5 – $15.00/year
  • Size 5×5 – $25.00/year
  • Size 3×10 – $30.00/year
  • Size 5×10 – $40.00/year
  • Size 10×10 – $80.00/year

If you open a new account you will receive a 3×5 rent free for one year (15.00 value), you will receive the large sizes at a reduced price for one year.


Key reorder fee $30.00

Drill box fee $50.00