Drake Bank opened for business in May 2002 and was the first new bank chartered in St. Paul in 40 years. Local investors and bankers founded the bank after recognizing a void of personal service and local support that had developed in the industry; and were driven to help others succeed for the shared prosperity of the community.
Drake Bank’s home is in the extensively renovated Drake Building, once the home of the Drake Marble and Tile Company. For over 100 years, Drake Marble was a supplier of materials for buildings, coast-to-coast, including the Minnesota State Capitol. Today, the four-story Drake building has an atrium where the sun lights up the entrance to Drake Bank and highlights the original massive columns and brick walls, a unique setting for a unique bank.