History of Rural American Bank Luck

Fidelity State Bank was established in 1931 by C.A. Love, Marius Dueholm, John E. Jensen, Anton Laursen, Peter Jensen, Nels Edling, Oscar W. Lund, W.H. Heuer, Carl R. Thye, Andrew Alm, and Harry D. Baker, who became its first President. It was formed after the bank holiday by merging the banks of Luck and Dresser into one charter with the main office at Luck and a station at Dresser. The Luck Bank was originally located in a building now occupied by Luck Pharmacy which had been moved to its present location from the "old town" in 1911. Subsequent bank Presidents were Anton Laursen in 1934, Andrew Alm in 1956, and H. H. Lindgren in 1964.

In earlier years the Post Office was located in the bank building, but despite being remodeled several times, the building eventually became too small. Consequently, a new bank building was constructed in 1975, the year following Brian O. Gilchrist becoming President. It was erected on the site of the old Askov Store Building which had been moved by a team of horses, over a several week period, from the "old town" in 1912. The store remained open for business as usual even as it was being moved down the street. During the years the old building occupied the Luck Bank's present site, it had been sold to the Petersen Land and Loan Company in 1921, to George A. and Estella Sorenson in 1928, and to Anton K. and Olive Pedersen in 1931. Other businesses which had occupied the building over the years were the N. J. Christensen and Son's Grocery Store, the Olaf Christensen Second Hand Store, the Montgomery Ward Agency, and the Le-Ann Dress Shop.

The site of the present Luck Bank parking lot was purchased in 1913 by the Butternut Social Club which had its hall moved there from the "old town." The Club sold its building to the Village of Luck in 1919 who owned it until 1947. It was then sold to Victor Post No. 255 of the American Legion who owned it until it was sold to the Bank and demolished for the parking lot of the new Bank in 1975.

Fidelity State Bank, with its branch at Dresser, was purchased in 1982 by Dennis Frandsen of Rush City, Minnesota. Anthony C. Johnson was installed as President.

A new building at Dresser was completed in 1984. The office was then moved from its original location which had been its home since the Bank was founded. The old building was donated to the Village of Dresser and is now the Village Office. The new building provides expanded facilities for the customers and employees.

In February 1994, the Bank's name was changed from Fidelity State Bank to Rural American Bank - Luck.

Rural American Bank-Luck is proud to be part of the Frandsen Financial Corporation.