Citizens Independent Bank Revenue and Competitors

Citizens Independent Bank was chartered as Citizens State Bank on October 5, 1949. It opened for business at 5001 Excelsior Boulevard as St. Louis Park's first bank in January 1950. The bank moved across the street to its present location (5050 Excelsior Boulevard) in August 1973. In December 1979, Citizens expanded, opening the Lakes office to serve the northeast section of St. Louis Park. Five months later, in May 1980, current chairman of the board Connie Bakken purchased Citizens Bank. A medical technologist by profession, she was ready for a new challenge, and chose banking at the suggestion of a friend. Knowing nothing about the profession, she embarked on a crash course, taking classes through the American Institute of Banking, St. Olaf College, and the University of Wisconsin, Madison. Under her direction, the bank has grown from $44 million in assets in 1980 to more than $190 million today.