St. Paul, Minn. | April 25, 2022 – Drake Bank announces 20 years of community banking and building better futures. Drake Bank was chartered on May 1, 2002, being the first new bank chartered in St. Paul for 40 years.

Since its inception, Drake Bank has focused on building relationships with the community and small businesses to help build better futures. The founders, many of whom are still investors of the Bank today, saw an opportunity for banking to be more personalized and focused on individual service and authentic relationships.

“We are excited to be celebrating this significant milestone for the Bank,” said Nichol Dehmer, Co-Chair of Drake Bank. “As an independent community bank, we have come a long way over the years, but the team’s passion and dedication for building relationships within our community have been impactful for not only the Bank, but also our neighborhood and the small businesses we have been able to support and help.”

To celebrate its 20th anniversary, Drake Bank is hosting two community events for its clients, the surrounding community, and other supporters of the Bank.

“In celebration of 20 years, we wanted to focus on our community supporters. We didn’t reach this milestone alone, and we felt celebrating with our community was authentic to how the Bank was founded and how we have built relationships over the past 20 years,” noted Greg Larson, President & CEO at Drake Bank. “We are excited about the Bank’s future and continual growth – we have an amazing team of subject matter experts that continue to spark an energy throughout the Bank, who will lead us through the next 20 years and beyond.”

Drake Bank is a purpose driven independent bank in St. Paul. We were founded in 2002 by a group of successful entrepreneurs committed to helping others succeed for the shared prosperity of their community. Our 70+ founders invested their own money to fund the first business loans and many are still shareholders today. Start building a better future. Learn more at