On December 31, 2014 Cornerstone Holding Company, Inc. and Lakeside Holding Company merged, bringing together the assets and expertise of two storied North Dakota community-based financial institutions. The resulting Cornerstone Bank provides an expansive product offering to our customers while staying true to our mission of providing accessible financial solutions and advice. Cornerstone’s offerings include business and consumer loans, deposits and cash management services along with mortgage and investment services. One of North Dakota’s ten largest financial institutions, Cornerstone Holding Company, Inc. is an $975 million financial institution. Cornerstone Bank has North Dakota bank locations in Bismarck, Dickinson, Fargo, Makoti, New Town, Parshall, Plaza, Watford City and a South Dakota bank location in Sioux Falls. There is a loan production office in Minot, North Dakota.
Prior to the merger, Lakeside Holding Company (operating as Lakeside State Bank) had locations in New Town, Parshall, Plaza, and Makoti in the northwestern part of North Dakota. In 1968, the Petersen family purchased controlling interest in Lakeside State Bank and today the family remains Cornerstone Bank's largest shareholder. In 1982, the Petersen family expanded into Watford City creating McKenzie County Bank and in 2008 acquired Peoples Bank in Makoti, Plaza, and Parshall, which has roots back to 1936.
Cornerstone Holding Company, Inc. began in 2006 when six Fargo based successful entrepreneurs purchased Citizens State Bank in Enderlin. Prior to the merger, Cornerstone Bank operated in seven locations including two in Fargo, two in Bismarck, and loan production offices in Dickinson, Minot, and Grand Forks.
In March 2016, Cornerstone Bank expanded into the Dickinson market with the opening of a full service bank location. Cornerstone Bank further expanded in June 2016, by purchasing the First Interstate Bank location in Sioux Falls. In December 2018, the Sioux Falls team moved into their brand new bank building located at the corner of 69th and Louise.
In August 2019 Lakeside Insurance Agency, Inc. became Cornerstone Insurance Services, Inc. Located in Cornerstone Bank in New Town, the insurance agency serves not only New Town, but also the surrounding areas of Parshall, Plaza, Makoti, Ryder, Stanley, Keene, and Watford City. Lakeside Insurance Agency, Inc. was established around the same time as the City of New Town in 1952. That rich history will carry on with Cornerstone Insurance Services, Inc.
Our expansion into new communities demonstrates our plans to grow our financial services organization. But, that doesn’t change our vision and values. We want to be the bank people turn to when they want to save, spend or borrow. And, we pledge to provide our clients with the best possible financial options. We believe our community bank is built not only on trust, but on open, honest and thoughtful discussion.