Security Bank, formerly known as Security State Bank, held a groundbreaking ceremony for its newest branch in Lennox on Wednesday, July 24. The event took place at the end of Main Street and HWY 44.
Established in 1932 in Tyndall, SD, Security Bank has been dedicated to building strong client relationships and providing exceptional banking services. Over the years, they have expanded to Chancellor, Viborg, and across the border to Jackson and Heron Lake, MN. In 2012, Security State Bank merged with Dakota Heritage Bank of Chancellor — the Chancellor bank been founded in the early 1900s.
“The community of Chancellor has long had a close association with Lennox,” said Security Bank President John Baumiller. “Serving them as our clients is our top priority. Additionally, we have identified Lennox as a community on the rise and worthy of our Bank to roll out the welcome mat. The leadership in the Lennox Community—at the School, City, Economic Development, Individual Business Ownership, and among residents—makes it a logical next step for Security Bank. Lennox is a strong, vibrant community with a serious economic heartbeat.”
The construction of the new Lennox building is set to be completed in July 2025. However, patrons will be able to start banking at Security Bank as early as September of this year.
This will be made possible with a modular structure on the site being used until the final construction is complete.
With the new location in Lennox, Security Bank plans to further extend their reach and serve the community with the same dedication and excellence that has defined the bank for over 90 years. They will offer next-level personal, agriculture, and small business deposit and loan products.
“We plan to serve the residents of Lennox for their personal, agriculture, and small business deposit and loan demands,” said Baumiller. “We have unmatched attention to detail in serving our clients.”
Security Bank also prides itself on local ownership and being employee-owned. The bank plans to become an active part of the community.
“We plan to work with Community Leaders in promoting community objectives by contributing our human resources and financial capital to growing Lennox. Specifically, there will be 15-20 people working in this facility,” said Baumiller.
Baumiller also highlighted that many team members are involved in various non-profits and for-profits within the community.
“If it is happening in Lennox, our bankers or the Bank are more than likely contributing our time and resources,” Baumiller added.
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