May 1, 2022, is Drake Banks’ 20th anniversary. Over the last 20 years, our community has changed and prospered. While many of the faces at the Bank have changed, our core mission and focus of serving the community and small businesses has remained. While we take time to celebrate the Bank’s accomplishments throughout the years, ...
St. Paul, Minn. | November 1, 2021 – Twin Cities Business (TCB) Magazine, a leading resource for business news, insight, and inspiration, and Mpls.St.Paul Magazine provides timely, dependable, and interesting information to its readers about the people, places, and events that form the Twin Cities; announced Stephanie Scarrella, senior mortgage lender at Drake Bank (NMLS# ...
St. Paul, Minn. | July 12, 2021 – Plato Holdings, Inc., the parent company of Drake Bank, announced the closing of its privately placed $5 million fixed-to-floating rate subordinated debentures. The Plato Holdings, Inc. 2021 Series A Subordinated Debentures (CUSIP US 72767WAA99) have a maturity date of July 1, 2031, and carry a fixed rate ...
St. Paul, Minn. | May 10, 2021 – BauerFinancial, Inc. – the nation’s premier bank rating firm – has awarded Drake Bank the highest (5-Star) rating for financial strength and stability. The 5-Star rating is proof that Drake Bank excels in areas such as capital adequacy, profitability, asset quality, and more. “This is indeed reflective ...
As community bankers, we thrive on discussing our clients' dreams and goals and helping them through the financial journey to achieve them. However, we understand that finances and banking may not be everyday topics for you. Additionally, talking about finances can be difficult, and financial products can be complicated to understand. Financial literacy is defined ...
St. Paul, Minn. | February 12, 2021 – Twin Cities Business (TCB) Magazine – a leading resource for business news, insight, and inspiration – announced Laura Gevik, senior vice president, chief operations officer at Drake Bank, as one of 22 Notable Women in Commercial Banking honorees. “TCB’s 22 Notable Women in Commercial Banking were already ...
2020 was perceived to be a hallmark for the future and technology. However, it unfolded differently than anyone could have ever imagined. While we may like to leave behind any remembrance of the year, there are things to celebrate, remember, and learn from our perseverance. The Drake Team In March, the financial services sector was ...
St. Paul, Minn. | December 1, 2020 – Drake Bank has honored each team member as a 2020 Hero for their commitment to our community and company mission and vision. The Merriam Webster Dictionary defines the word ‘hero’ as “a person admired for achievements and noble qualities” and “one who shows great courage.” Community bankers ...
St. Paul, Minn. | November 16, 2020 – The Federal Reserve is temporarily offering the Main Street Lending Program to support lending to small and medium-sized for-profit businesses and nonprofit organizations that were in sound financial condition before the onset of the COVID-19 pandemic. The Main Street Lending Program aims to keep credit flowing to ...
St. Paul, Minn. | September 14, 2020 – Social Assurance — a marketing, sales, and community development software that helps banks and credit unions support their community – announced Drake Bank and Michigan State University Federal Credit Union (MSUFCU) as the winners for the 2020 Community Spark Award. The award recognizes banks and credit unions ...