The First National Bank of Fairfax, Minnesota is a small independent community bank that is locally owned and locally managed with one office. Founded in 1910, it is located in a rural community with a population of about 1,300 situated at the crossroads of Minnesota State Highways 4 and 19 in Renville County in Southwestern Minnesota.
The First National Bank enjoyed a rapid growth from the beginning, and was able to pay a substantial dividend each year from the start. The bank had 36 stock-holders, all but a few of which lived right in Fairfax and the adjoining community. It had not been the policy of the bank to pile up any enormous profits for the stock-holders, but to conduct a conservative business which had for its goal the absolute safety of the depositors' money. The healthy rapid growth of the bank was an evidence of the confidence the community had it this latest banking institution.
Specialization of the bank is agriculture lending and offering deposit services. Among Minnesota’s 87 counties, Renville County usually ranks either 1st or 2nd in the state in the production of corn for grain, soybeans, sweet corn, peas and sugar beets.
