If you’ve been downtown St. Cloud, you may have noticed the beautiful, historical building on the corner of 5th Avenue and St Germain Street. And *not* just because it’s where we and the GSDC call home… have you ever looked up at the tall building and wondered who has those beautiful offices? Meet Kensington Bank.
Kensington Bank occupies the 2nd and 3rd floors of the historic “First National Bank of St Cloud,” which was constructed in 1889, expanded in 1918, and in 2017 awarded the Minnesota Preservation Impact Award for renovations by Shannon Wiger, Inventure Properties, BCI Construction, and JLG Architects. The project was completed in partnership with the United States National Park Service and State of Minnesota Historic Preservation Office. The building was home to the first bank in all of Central Minnesota and is considered one of the most historic and architecturally significant structures in outstate Minnesota.
Kensington Bank was established in 1898 (then known as First State Bank of Kensington) and is a full-service bank with loans, financing, deposit accounts, convenience services, digital banking, business services, and financial expertise. We got a chance to talk with Tim Stewart, Chief Banking Officer, to learn more.
“We are known first and foremost as a true community bank. That includes our community involvement but also our local decision-making, entrepreneurial spirit, and our understanding approach to banking. Outside of the reputation we’ve built around the community, we may be best known for our location-based specialties. In St Cloud, for instance, we are more known for Business Banking & Commercial Lending and Mortgage Lending whereas in our other MN locations we may be known more for our Agricultural Banking.”
The name likely gave it away, but Kensington Bank started in Kensington, MN – just northwest of Central MN. So what brought them to St. Cloud? “One of Kensington Bank’s shareholders, Brian Schoenborn, was born and raised in St. Cloud and practices law at Moss & Barnett in St. Cloud. His family has farmed in Stearns County since 1854. Brian has many relationships and impactful connections in the St. Cloud community and felt Kensington Bank would thrive with those families and businesses, and in this region. Along with majority shareholder and philanthropist Bill Sexton’s longstanding ties to Saint John’s University and the College of Saint Benedict, it was logical that Kensington opens an office in the Granite City with such an incredible sense of community pride and passion for our area from within our ownership group.”
“Central MN values are a cornerstone of what our organization emulates. We embrace the entrepreneurial spirit and work ethic of the amazing people who reside throughout Central Minnesota. We have embraced our communities in all that we do; adopting our #kensingtoncares initiative which highlights our community involvement from sponsorships, volunteering, initiatives, and donations to the incredible organizations that serve our communities.”
#StCloudShines
