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Central Bank is a full service, independently owned Minnesota bank that specializes in serving the banking needs of small businesses. Central Bank was chartered in April of 1988 when Oak Park State Bank failed and John Morrison, Central Bank’s owner, acquired the failed bank’s assets. In April 1991, the Bank, then called St. Croix Valley Bank, formally merged with Cosmopolitan State Bank and became Central Bank. Cosmopolitan had served the community of Stillwater since June of 1919. Morrison has been in the banking business in Minnesota and other states for the past 40 years. Besides Minnesota, Florida and Wisconsin, Morrison has previously owned banks in Arizona, Colorado and Montana.