The State Bank of Lakota began operation on June 26, 1900 as the National Bank of Lakota under National Bank Charter 5455. The bank moved into its present location in 1918. One of four banks in Lakota, it was the only bank to survive the Great Depression. In 1946, Mr. O.K. Anderson purchased the bank and converted it to a State Charter.  His son, Aron Anderson, assumed control in 1980, and now the third generation of the Anderson family heads the bank’s operations.

In the summer of 1999, the State Bank of Lakota celebrated its 100th year, completed a new addition and added a trust department to its menu of services. The State Bank of Lakota continues to grow and be successful because of its unmatched commitment to the community and people of Lakota.