Cornerstone Bank Remains Strong, FDIC Insured

Gary and Nancy

You’ve probably seen the signs that say: “Each depositor insured to at least $250,000.” Have you ever thought about what that sign really means?

The Federal Deposit Insurance Corporation (FDIC) was formed to protect the money deposited into accounts at banks covered by FDIC insurance. That means your money is protected up to $250,000 per depositor, per insured bank, for each account category.

FDIC coverage separates insured accounts into different categories, such as single accounts, joint accounts, certain retirement accounts and others. These categories cover checking and savings accounts, money market deposit accounts and certificates of deposit.
As an FDIC Member, the coverage is automatic – so you don’t need to apply for FDIC insurance.

“Cornerstone Bank has a long history of offering financial services in the Dakotas. During that time there have been numerous financial crises including most recently the Great Recession in 2008 and economic uncertainty during the Covid-19 pandemic,” said Gary Petersen, Chairman. “Cornerstone Bank has shown resiliency because of strong leadership and adhering to conservative banking principles. Because Cornerstone Bank is FDIC insured we are strongly regulated and the bank fully subscribes to the regulatory framework that has kept the banking industry, particularly community banks, safe and sound for decades.”

What about other financial products?

Other financial products like stocks, bonds, mutual funds and securities are not covered even if they are invested through the bank.

Stop in to talk with one of our bankers to explore ways to set up your accounts for maximum FDIC coverage. We’re here to help keep your money secure and protected.

How does FDIC Insurance protect bank customers?

  • The FDIC insures up to $250,000 in eight separate account categories per depositor per bank.
  • In the 88-year history of the FDIC, no one has ever lost a penny of an insured deposit.
  • The FDIC is completely funded by the banking industry, not taxpayer dollars.
  • The banking industry knows that a strong FDIC and deposit insurance fund are essential to the banking system. Banks stand ready to do whatever it takes to ensure the health of the fund and strength of the FDIC.

To learn more check out this video from the FDIC. Have more questions or want to calculate your FDIC coverage? Click here. 

Staller Named Chief Banking Officer

Dan Staller Chief Banking Officer

Staller Named Chief Banking Officer

Dan Staller has been named as the SVP/Chief Banking Officer in Fargo with over 28 years of banking experience. In addition to his experience as Chief Banking Officer, Staller has also previously held the roles of Market President, Business Banker, and Business Banking Manager.

A graduate Minnesota State University Moorhead, Staller also holds a degree from the Graduate School of Banking. He has served on numerous non-profit and community boards.

Cornerstone Bank CEO/President Jeff Thomas said, “We are excited to have Dan onboard. His wealth of experience makes him a great fit to work with our team across the Cornerstone footprint, contribute to strategic planning, and drive business development.”

Click here to see our full leadership team.

Weiler Named Chief Risk Officer

Jeff Weiler named Chief Risk Officer

Jeff Weiler has joined Cornerstone Bank as the Chief Risk Officer in Fargo.

With over 26 years of banking experience, including previous roles as Chief Innovation Officer, Chief Risk Officer, Executive Vice President and an Enterprise Risk Manager, Jeff Weiler has been named as Cornerstone Bank’s Chief Risk Officer.

“We are excited to have Jeff join our team,” says COO Deneen Axtman. “He brings a depth of experience in managing risk, leading people, and thinking strategically all of which make him one of the best in the industry.“

Originally, from Dickinson, North Dakota, Weiler is a graduate of the Graduate School of Banking and Northern State University. He currently resides in Fargo with his wife Beth. He has two grown daughters, a son-in-law and granddaughter, who are also in Fargo.

To see all of our leadership team visit the leadership page. 


50 Best Places to Work 7 Years Running

50 Best Places to Work
For the SEVENTH year in a row, we are proud to be named to Prairie Business Magazine’s 50 Best Places to Work!
The September issue of Prairie Business names and honors the 50 Best Places to Work in the northern Plains. Earlier this year, employees nominated the organizations by submitting anonymous employee-satisfaction surveys, and Prairie Business used the survey results in selecting the 50 Best.
The survey sought input on each employer’s benefits, workplace culture and employee morale, among other factors. And employees responded. Prairie Business this year received more than 1,700 nominations from employees from around the region.
“We are excited to see so many participants in this year’s contest,” said Prairie Business Editor Andrew Weeks. “It is good to see the many companies who have been here before, but also to see some new names on the list. This goes to show that there definitely are some great companies in our region.”

Bollingberg Joins Board

Bollingberg joins board

Bollingberg joins Cornerstone Bank Board

Karl Bollingberg has joined the Cornerstone Bank Corporate Board of Directors bringing extensive knowledge from 36 years in banking.

“I am pleased to welcome Karl Bollingberg to our Corporate Board of Directors,” says Chairman Gary Petersen. “Karl is a great addition to our organization with his broad experience and immense value.”

Bollingberg’s Background

Recently retired from Alerus Financial, Bollingberg has worked in a variety of roles including Loan Participation Advisor, Director of Lending, Director of Banking Services, Market Manager, and Director of New Business Development. He is an elected member and Vice Chairman of the Federal Home Loan Bank of Des Moines representing stockholders in the state on North Dakota. Bollingberg also serves as Chairman for the Bank of North Dakota Advisory Board and is the past Chairman for the Grand Forks Regional Economic Development Corporation. He has been active in numerous other civic organizations and has taken part in church mission trips to Honduras.

“I am very excited to join the Cornerstone Bank Corporate Board,” says Bollingberg. “Cornerstone has a long history of being a strong community bank and has so much potential going forward.”

A native of North Dakota, Bollingberg graduated from North Dakota State University with a degree in agricultural economics and subsequently completed the graduate school of banking. Bollingberg currently lives in Grand Forks with his wife, Twila. They have three grown children.

Learn more about us!

Grave Named CFO of Cornerstone Bank

Brian Grave

Brian Grave named Chief Financial Officer of Cornerstone Bank

Brian Grave has joined Cornerstone Bank as the Senior Vice President/Chief Financial Officer in Fargo. He brings over 25 years of accounting experience and 23 of those years are in the financial services industry.

Originally, from Pequot Lakes, Minnesota, Grave graduated from the University of Minnesota, Duluth with a degree in Accounting. He currently resides in West Fargo with his wife, two kids and their three pets. In his spare time, Grave enjoys spending time with family, traveling, reading, and riding his motorcycle.

Grave gives back his time to many community organizations including the Fargo Lions Club and Lions Club International, The Village Family Service Center, United Way and Prairie Public Radio.

“I am pleased to welcome Brian to the Cornerstone Bank Team,” says President/CEO Jeff Thomas. “His broad experience in various aspects of financial services is a great fit with our growing organization.”

See the full list of Cornerstone Bank’s leadership by visiting the Leadership Page.

Wentz to Lead Cornerstone Bank Minot Location

Minot Team

Cornerstone Bank has opened a loan and deposit production office in Minot with an experienced team of community bankers.

Grant Wentz is leading the team as SVP Market President. A graduate of North Dakota State University, he brings over 30 years of banking experience.

Wentz has extensive knowledge in providing financial services to business, personal, and agriculture banking clients. A great fit with Cornerstone Bank’s mission of giving straight answers and the best possible financial options. Wentz enjoys working with clients to understand their financial situation and recommending options to meet those needs.

Joining Wentz

Joining Wentz at Cornerstone’s Minot office are VP Ag/Business Banker Mike Vendsel, VP Business Banker Jason Bentley, and AVP Business Banking Associate Tracy Brown.

Vendsel has over 30 years of banking experience. He brings a wealth of knowledge from working alongside business owners and agriculture producers through the ups and downs of their operations.

Bentley brings over 20 years of banking experience specializing in business and agriculture. He values his role as a neighbor and contributor to his community as an active member with the Boy Scouts, Lions Club, Y’s Men, Downtown Business and Professional Association, and Renaissance Zone Board.

With over 20 years of experience, Brown knows the ins and outs of business and agriculture loans. She will provide support to both clients and the banking team to help meet the needs of our customers.

“It’s very exciting to join the Cornerstone team and even more so to have Cornerstone Bank entering the Minot market,” Said Wentz. “The team and I feel a strong connection with Cornerstone’s company values and history. Collectively, we bring over 100 years of experience and are thrilled to put that to work helping Cornerstone Bank customers.”

With roots back to 1936, Cornerstone Bank continues to grow.

Now with locations in 10 communities across North and South Dakota, this growth is consistent with Cornerstone Bank’s vision of helping people make important decisions about their money.

Cornerstone Bank Chairman Gary Petersen said, “Minot fits perfectly into our footprint. It’s adjacent to some of our existing markets with long histories. This expansion into Minot allows us to welcome more clients to the Cornerstone Family and to welcome more experts to the Cornerstone Team.”

Johnson Retires from Cornerstone Bank, Tschetter Promoted

Johnson Retires, Tschetter Promoted in Dickinson.

Johnson Retires from Cornerstone Bank

After a distinguished career of 30 years in banking, Vaune Johnson is retiring as SVP Market President at Cornerstone Bank in Dickinson. As of April 15, 2022, Johnson will transition to a part-time Executive Vice President role to assist with special projects for the bank.

Gary Petersen, Chairman of Cornerstone Bank said, “Vaune is a true community banker. Her strong leadership has been felt within Cornerstone Bank, the industry, and the community. We are excited for her to stay on the Cornerstone Bank team in her new role.”

An Accomplished Career

Throughout her career, Johnson has broken barriers in the financial industry. In fact, she was the first female Chairperson of the North Dakota Bankers Association, paving the way for a time of officers being all female in the years following. Johnson also provided strong leadership within her membership on the American Bankers Association Grassroots Committee and the North Dakota Society of CPA’s. She has received numerous awards including being named a Fellow by Dickinson State University. Johnson received the Northwestern Financial Review Outstanding Women in Banking award, the Greater North Dakotan Community Leadership Award, the Dickinson Area Outstanding Community Volunteer Award and the Dickinson Area Chamber of Commerce Director of the Year Award.

Johnson has also been a leader not only in her community, but also in the region. She serves on the North Dakota Board of Medicine as well as the Dickinson Chapter of the Employer Support of Guard and Reserve. Johnson is Treasurer of the Greater North Dakota Chamber and Stark County Job Development Authority. She has also been an instructor at Dickinson State University in Accounting and Management Leadership.

Johnson Reflects

“I have been blessed in my public accounting and banking career with early mentors like Ron Kovash and Frank Fridrich. Along with family and friends, they provided the building blocks in knowledge, support and confidence,” Johnson reflected. She went on to say, “Joining Cornerstone has been my capstone and I am excited for Scott as he steps into the Market President role. We joined Cornerstone nearly eight years ago and have been true to our Cornerstone mission of helping people make important decisions about their money. The Cornerstone culture is unsurpassed and I am so proud of our team and our accomplishments. I believe the best is yet to come!”

Tschetter Promoted

Scott Tschetter has been promoted to SVP Market President. Tschetter joined Cornerstone Bank in 2014 as a VP Business Banker and has 20 years of banking expertise. He has worked alongside Johnson for many years thus ensuring a smooth transition for bank customers and the community alike.

Tschetter is a native of Watford City and has a Bachelor’s Degree in Business Administration and minor in Banking and Finance from Dickinson State University. He is also a graduate of the Graduate School of Banking in Madison, WI and the MN Commercial Lending School. Tschetter has been the recipient of Prairie Business Magazine’s top 40 under 40 award. He currently serves as Chairman of the Stark County Housing Authority.

This Calls for a Celebration!

To celebrate Vaune’s career and Scott’s promotion, there will be an open house on Wednesday, April 20 from 4:00 to 6:00 p.m. at Cornerstone Bank (3095 15th Street West, Dickinson). Hors d’oeuvres and drinks will be served.

To see the full Dickinson team visit our Meet the team page.

Roth Joins Cornerstone Bank

Roth joins Cornerstone Bank

Logan Roth joins Cornerstone Bank as an AVP Business Banker in Sioux Falls.

Logan Roth joins Cornerstone Bank as an AVP Business Banker in Sioux Falls. Originally from Salem, South Dakota, Roth graduated from North Dakota State University with a degree in Accounting. After graduation he earned his postgraduate credits at the University of South Dakota in Vermillion.

Roth brings with him over 8 years of banking experience. He also give back to his community by serving on the Board of Directors for Unite Church and the McCook Country Club. Roth currently lives in Salem, South Dakota with his wife, Amanda and three kids. He likes to spend time outdoors hunting and fishing as well as on the golf course.

Set up an appointment with Logan today! 

Bohn Joins Cornerstone Insurance Services

Erica Bohn joins Cornerstone Insurance Services

Bohn Joins Cornerstone Insurance Services

Erica Bohn joins Cornerstone Insurance Services as an agent in Watford City. She holds her licensing in property and casualty insurance.

“I became an insurance agent to help people navigate their insurance needs and provide them with peace of mind. It is my goal to help clients understand their insurance policies and provide them with the coverage they need,” Bohn says. “McKenzie County is so special and close to my heart, I look forward to serving this community!”

Originally, from Linton, North Dakota, Bohn currently lives in Watford City with her husband, Colt. Together they have four daughters Annabelle, Sudora, Zamira, and Lenora. In her free time, you will find her volunteering as a coach for youth basketball, volunteering at her community church, reading, or traveling with her family.

To see our full list of insurance offerings visit our Insurance Page.