Local bank featured in magazine

by Joni Astrup

Associate Editor

The Bank of Elk River has been featured prominently in a finance publication.

John Babcock (left) and Bill LaVigne of The Bank of Elk River area featured on the cover of "North-Western Financial Review."

John Babcock (left) and Bill LaVigne of The Bank of Elk River area featured on the cover of “North-Western Financial Review.”

Two bank leaders, John Babcock and Bill LaVigne, are pictured on the cover of “North-Western Financial Review” with the headline “Recession-Proof Commitment: Not even a nationwide financial crisis can shake Minnesota bank’s support for its community.”

The story outlines how the bank continued to support the community even as the bank itself was battered during the Great Recession.

The story described how bank officials worked with struggling commercial customers to help them turn their businesses around, and how the bank continued to support community causes during the recession. Since 2009, The Bank of Elk River has been the sole sponsor of the Riverfront Concert Series, which features free weekly summer concerts outdoors at a downtown park. The bank also sponsors a farmers’ market held downtown.

Volunteering continued strong during the recession as well, with bank employees logging about 2,500 hours a year with more than 70 organizations.

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