Deerwood Bank - Baxter

Deerwood Bank - Baxter


Financial ServicesMortgages

About Us

We are where YOU need us.

Since establishment in 1910 in the small town of Deerwood, Minnesota we’ve been an integral part of the communities we serve. Our staff is on various local community boards, coaches of local youth sports teams, mentors to students, partners in business development, and more. We are committed to the values most important to you!

With our expanding network of locations throughout Minnesota, thirteen in total, we are reaching more places you need us.

Deerwood Bank was established in 1910 in Deerwood, Minnesota. Located in Northern Minnesota, Deerwood had a plentiful supply of building materials and fuel from surrounding forests along with abundant game and lakes, attracting many to settle permanently or visit the developing resort industry.

After 68 years of serving Deerwood and its surrounding communities, the Bank added a second location to serve a broader area. In 1978 a new office was constructed approximately fifteen miles south in Garrison, Minnesota. In 1995, Deerwood Bank expanded its reach entering into the City of Brainerd located twenty miles to the west.

Concurrently, the Bank began to aggressively pursue expansion and acquisition opportunities that would fit into our business model. This model is to focus our efforts on building relationships with our local constituents specializing in meeting the needs of small businesses and home loan financing through investment in personnel and by the offering of unique products to our markets including free business checking and in-house servicing of mortgage loans.