New vice president, chief credit officer in New London
First State Bank recently announced that Lynn Olson has joined its management team as vice president and chief credit officer.
She is responsible for the day-to-day oversight and administration of the bank’s loans and loan operations.
Olson graduated from the University of Minnesota – Duluth with a major in finance and minor in accounting and has more than 15 years of lending and credit administration experience. In 1999, Olson started her banking career at The Lake Bank in Two Harbors, Minnesota, where she was a credit analyst and lender and was later promoted to senior credit officer.
Olson joined First American Bank in St. Michael, Minnesota, as a commercial lender in 2004. In 2008 she moved into the senior loan officer/chief credit officer role and held this position until coming to First State Bank.
Olson enjoys being active in the community. She volunteered with the Two Harbors Area Chamber of Commerce where she served on their Summer Fest and Winter Frolic committees. She was a co-founder of the St. Michael Daze & Knights Festival and also created and organized First American Bank’s annual Medallion Hunt.
Olson was honored as a Northwestern Financial Review Rising Star in Banking in 2008. She was a member of the Rotary Club of St. Michael-Albertville and twice served as the club’s president.
“Making loans to help families and businesses is of course our primary focus,” said bank president Bob Van Asten. “Lynn brings a wealth of experience to First State Bank that will help us better serve our communities while balancing the increasing regulatory requirements that community banks are facing.”
Olson and her husband, Brian, have three boys and recently relocated to New London. In her spare time, Olson enjoys long distance running and reading. She and her family are active outdoors and enjoy hunting and fishing.