In 1909 S.A. Netland opened the State Bank of Rosemount. It was the first locally owned independent bank in the city of Rosemount. Mr. Netland also owned banks in Bixby, Northfield, Carlos and Mendota. In 1909 the Bank had a capital of $10,000, and the total cost of the building, including the vault and fixtures was $4,050. 1914 brought about the beginning of the Toombs family involvement in the bank. Ralph Toombs moved from Dawson, Minnesota and began his banking career working for Mr. Netland at the Bank of Mendota. In 1919 Ralph came to work as the cashier at the State Bank of Rosemount. He was filling in for the previous cashier who was drafted into World War I. 1920 brought about a name change for the Bank. It became the First National Bank of Rosemount. In 1929, Mr. Netland sold the Bank to Ferdinand Ruhr. Mr. Ruhr renamed the Bank in 1931 to The First State Bank of Rosemount.
In August of 1949, Mr. Ruhr sold the Bank to the Toombs Family. Ralph became President and his sons Bob and Dave took greater roles in the operations of the Bank. In early 1960 The First State Bank of Rosemount moved into its current location – 3025 145th Street West. The structures and fixtures were valued at $112,700.
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
Close
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NMLS 1795154