Frandsen Financial Corporation is a multibank holding company with bank offices in Minnesota, North Dakota and Wisconsin. Frandsen Bank & Trust is one of the banks owned by Frandsen Financial Corporation. The corporation purchased State Bank & Trust of New Ulm in 1998. Rural American Bank - Montgomery/Lonsdale was the result of the corporation purchasing the State Bank of Lonsdale in 1997 and the Citizens State Bank of Montgomery and merging them into one bank in 1999. Frandsen Financial Corporation purchased Rural American Bank Foley in 1993 and Valley Bank Dundas in 2001.
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