On September 5, 1898, the Bank of Menahga first opened for business. In 1904, Matt Ristinen reorganized the bank and it was renamed the State Bank of Menahga. This building was located on Birch Avenue SE. In 1917, a new building was constructed on the northwest corner of Murray Avenue and Crooks Street. On September 11, 1922, The First National Bank of Menahga received its Bank Charter. Many things have changed and the bank has had many facelifts and remodelings. A post office was put up next to the bank and a dress shop next to that. In the 1960s, the bank was enlarged to include these two building areas. In January 1965, the bank was purchased by Oliver Back and W. E. (Willie) Froemming. For many years, Willie was the owner of the bank and the president. In 1979, another remodeling added a new bookkeeping room, vault area and drive-up lanes. A 1995 remodeling to the north nearly doubled the size of the building. An old building to the west was torn down to make room for an employee parking lot. Another old building to the north was removed to make room for the bank expansion and a new customer parking lot. In 1998, the bank celebrated its 100th Anniversary. At that time, the Menahga bank was one of 88 Minnesota banks chartered before 1900 that was still in business. In 1998, the bank was purchased by Willie’s daughter, Nancy, and her husband, Roger Day. Roger and Nancy and their two sons, Jim and Justin, continue to work at the bank. In 2005, the bank purchased Security State Bank of Sebeka. In 2006, the two banks were merged into one and the name was changed to First National Bank of Menahga & Sebeka.