MinnStar Bank National Association was chartered as a national bank in 1934 as The Lake Crystal National Bank. The company was formed by a group of local businessmen who sought to reorganize the First National Bank which closed its doors in 1933. The Lake Crystal National Bank built its present Lake Crystal office in 1974. The branches in Good Thunder and Mankato were acquired in 1990 when the Lake Crystal National Bank purchased The First State Bank of Good Thunder. In October 1992, the company name was changed to MinnStar Bank National Association in order to bring a unified identity of the bank to all three communities.