Security State Bank of Wanamingo Announces Appointment of Scott G. Peterson as President & Chief Executive Officer


Wanamingo, MN – Security State Bank of Wanamingo, a full-service community bank, today announced that Scott G. Peterson has been promoted to President and Chief Executive Officer. Peterson has more 10 years of experience in senior management. He joined the bank in 2020 and is currently serving as the senior banker in the Agriculture and Commercial Lending Departments.

Jeff Davidson, Chairman of the bank’s holding company, Wanamingo Bancshares Inc., expressed “Scott’s knowledge of the bank and local communities made him an ideal choice to lead Security State Bank of Wanamingo. The board has great confidence in Scott and is excited to begin a new phase of growth under his leadership.”

Peterson has a B.A. in Economics from the University of Minnesota and a deep background in agricultural business. Peterson is currently working on his master’s degree from the University of South Dakota in Business Administration with a specialization in finance. His background and enthusiasm for embracing a culture of innovation aligns perfectly with the company’s core values and will be instrumental in driving continued growth and improvement.

The board would also like to express a deep thank you to long-term employee Nancy Benrud. Her service as Interim President allowed the board to make a well thought out decision about the direction of the bank’s leadership. Nancy will remain involved with the company in an administrative role after the transition is complete.

About Security State Bank of Wanamingo:

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 11 employees and an asset size of $85 million in 2023. Please visit for more information.