Fulton State Bank was established in 1924 in Fulton, SD.  To diversify the banks portfolio they expanded to Mitchell in 1994.  The move helped diversify with more commercial loans and less heavy reliance on farming.  Another reason for the move was to meet the needs of the customers.  Many of Fulton's residents work in Mitchell and needed to do their banking during the day.

The branch in Mitchell is the offspring of deep banking roots that started in Fulton.  The bank in Fulton has established itself by withstanding the Great Depression and droughts.  Fulton State Bank stresses small town banking because the financial decisions are made locally.  It is small town banking "one on one" service.  Everybody knows the bank directors.  Board members are all Fulton area residents:  Donald Blumenberg - Chairman of the Board, Donald O'Neill, Gary Slade, Fred Smith - President & CEO and Lee Schroeder - Vice President. Being small also means the bank doesn't take on multi-million dollar loans.  The average commercial or farm loan is about $100,000.

In 2004 a new addition was added to the Mitchell branch.  The future holds even more growth and opportunity for the bank with increasing deposits, loans, and customers.