For Immediate Release
3/38/26
Wanamingo, MN – The Board of Directors of Security State Bank of Wanamingo announces the retirement of Jeff Davidson from the Board, effective 3/28/26, concluding 28 years of dedicated service, including several years as Board Chair.
Over nearly three decades, Mr. Davidson provided steady leadership and thoughtful guidance as the bank navigated growth and change. He served alongside five different Presidents and brought a consistent, independent perspective to board discussions—helping to strengthen decision-making and governance throughout his tenure.
In addition to his service to the bank, Mr. Davidson has been deeply rooted in the local agricultural community as a farm business management instructor and active farmer in Cherry Grove Township. His experience and connection to the community have been invaluable to the bank’s mission and long-term success.
On behalf of the Board of Directors, management, and shareholders, we extend our sincere appreciation to Mr. Davidson for his 28 years of commitment, leadership, and service. We thank him for the lasting impact he has made not only on the organization, but the community he served, and wish him all the best in retirement.
The Board also welcomes Brian Haugen, who has been elected to fill the vacancy created by Jeff Davidson’s retirement. Mr. Haugen brings 38 years of banking experience, 28 of which were with Bank of Zumbrota. He previously held a wide range of positions during his banking career, notably focused in credit administration and lending. We look forward to the contributions he can bring to the board.
With over 100 years of providing financial services, Security State Bank of Wanamingo is a full-service commercial bank providing its expertise to the communities of Southeastern Minnesota. Security State Bank of Wanamingo has a long history of supporting local communities and continues to provide creative financial solutions to clients. The company has 13 employees and an asset size of $113 million in 2025. Please visit https://www.ssbwanamingo.com/ for more information.
Pictured from left to right are: Scott Cordes, Roger Overby, Gary O'Connor, Jeff Davidson, Scott Peterson, Nancy Benrud, and Dave Froyum
