Woodland Bank


Woodland Bank is a family owned bank that traces its roots back to the logging boom days in Northern Minnesota. The bank was chartered in 1920 as Shovel Lake State Bank by Fred Blais to serve the needs of his logging camp and area community of Shovel Lake, Minnesota. In 1924, the bank acquired and merged with the First State Bank of Swatara, another local logging area owned by the Magnuson family from Foley, Minnesota. It was at this time that Gotfred Nicklason came to work for the bank as a Cashier. He had previously worked as a “walking boss” for the Fred Blais logging operation.

In 2012 Woodland Bank agreed to sell the Remer, Longville and Jenkins offices to the First National Bank of Walker. Woodland Bank will now center its focus on the Itasca County area of Minnesota. It remains committed to serving the needs of its communities and the vibrant economy in the Grand Rapids, Minnesota market. In September of 2015 the Loan Production Office in Grand Rapids was converted to a full service branch to better serve its community.

HSA Program Features

FDIC or NCUA Insured:
Min Balance to Open:
  • Debit Card

HSA Interest Rates

Interest rates for various balance tiers
$1.00 - $2,000.00 0.05% APY
$2,000.01 - $5,000.00 0.10% APY
$5,000.01+ 0.20% APY
Last checked on: 06-01-2021. Rates may not be current, please check the provider's website for the latest rates.


Monthly Maintenance Fee $1.00
Account Opening Fee Unknown
Account Closing Fee Unknown

HSA Investment Options

Mutual Fund Platform: close   Self-Directed Brokerage: close   CDs: close   Other: close

Contact Information

General Information

Address 2610 South Highway 169
Grand Rapids, MN 55744

Customer Service

Mailing Address PO Box 5010
Grand Rapids, MN 55744
Phone Number (218) 999-9952