The year was 1901. It had been slightly more than a decade since Freeport had been incorporated and platted. The small town in Central Minnesota had shown steady growth over the years, but something was missing. The town needed a bank.
To fill this need, George Uhlenkott founded a private bank. Mr. Uhlenkott was a land owner, grain shipper and highly esteemed farmer. In 1908 Georges son Herman took control. With the resulting efforts of Herman and his brother Simon, Freeports bank was incorporated as the Uhlenkott State Bank.
In 1912 the bank was purchased by John W. Kuhn, Moritz Hoeschen and Hubert and Peter Thelen. Upon these changes of ownership, the banks name was changed to Freeport State Bank.
One year later in 1913, Herman Rose, Nick Hockert and JM Rieland founded a competing bank named Farmers State Bank. To meet the competition, the Freeport State Bank built a new building in 1922, which is still in use as the banks headquarters.
Both banks grew and prospered, and in December 1926 the Farmer
State Bank merged with the Freeport State Bank to become the sole
financial resource for the community. In 1941 VJ (Virgil) Hemker
joined the bank as a bookkeeper. Many years later, in 1959, he
bought controlling interest in the bank and was its guiding light
until his retirement in 1983. During his time as president, a
branch was created in New Munich in 1978. Upon retiring, VJs
son Jim Hemker, purchased the bank and is now its president.
Today, Freeport State Bank operates a second branch in Melrose,
and has a current asset base of $85,000,000.00.
At Freeport State Bank, Customer Service Is Our Priority.