The RiverBank was a bank offering banking, insurance and investment services. On October 7, 2011 the Minnesota Department of Commerce shut down The RiverBank and subsequently the FDIC was named Receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with Central Bank, Stillwater, Minnesota, to assume all of the deposits of The RiverBank. In 1894, Charles Oakey made a decision that Osceola needed to have a bank. Mr. Oakey planned the organization of a private bank and opened for business in the "Filzen Building," now known as "P.Y.'s." Charles' nephew, Harry Harding, joined him as a cashier and they managed The Bank of Osceola for the next four decades. In 1903, the bank became a state bank and corporation. More information...
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