For nearly 100 years, Peoples State Bank has served the financial needs of the region with outstanding products, quality loans, and excellent customer service. Established in 1915 to serve the community of Velva, Peoples State Bank has since grown to include Minot and the surrounding region.
|First State Bank of Simcoe was moved to the former Merchants State Bank building in Velva in August of 1924 where it was renamed Peoples State Bank of Velva. The Kumm’s took over the bank shortly after the move to Velva was completed. Peoples State Bank of Velva is still conducting business in this same location today.|
|The old Peoples State Bank of Velva building was torn down and construction began on the new building, which is still operational today.|
Four generations of the Kumm family have worked at Peoples State Bank over the years. Starting out with Art Kumm and his wife, Anna Kumm and then their daughter Verona followed by their grandson Richard Beall and now his son Richard Beall, Jr. who is President of the Minot branch of Peoples State Bank of Velva.