July 1, 2020


Business Banking

A Mutual Understanding of Business and Banking

A Mutual Understanding of Business and Banking


Anderson Underground’s owner, Nick Anderson, has been a loyal Deerwood Bank client since he opened his business in 2004, never finding a reason to look elsewhere for his business or personal banking needs. The Sauk Rapids’ company provides a wide range of underground utility construction services. With the seasonality of construction, Anderson Underground employs between 43 and 55 employees.


When Anderson began Anderson Underground, he needed a banking partner that would understand the unique needs and seasonality of the construction industry. He found that expertise and understanding with Deerwood Bank, whose owners are rooted in construction. 

“I have a sense of comfort when banking with Deerwood,” said Anderson. “Their management understands construction and has a vested interest in our business. They know people in our industry and have referred us on multiple occasions—that’s a true partnership.”


“From where we started as a business until now, is a night-and-day difference,” he said. “Deerwood Bank has stayed with us through changing locations, buying buildings, financing equipment, and
even starting my personal mortgage.”

As business and banking have changed, Anderson says Deerwood Bank grew along with the industry trends—never falling behind in services or technology. “Deerwood has grown from originally being a small, up-north bank, but they’ve never lost the personal touch,” he said. “When I call, a person always answers the phone.”

Banking technology has also helped Anderson Underground’s efficiency. “When we began banking with Deerwood—before they
had central Minnesota locations—the closest branch was about an hour away,” said Anderson. “They provided the technology that allowed us to be more effective from our location. We’ve streamlined the payroll functions, EFT, direct deposit, and mobile banking. Our office team loves Deerwood’s technology offerings.”


Communication has always been the most important factor in his banking relationship. “Deerwood’s team is straightforward, like me,” Anderson said. “Their team is sharp and everyone knows their stuff. I never have to worry about my banking—Deerwood always gets it done.”

Why Nick Anderson loves Deerwood Bank:

Simplicity: “Deerwood’s people are straightforward. I appreciate that they’re not always trying to up-sell me like other, larger banks I’ve worked with.”

Integrity: “Deerwood Bank has always been reliable—I can count on getting done what needs to be done.”

Industry expertise: “When I started banking with Deerwood, they
had only a handful of locations in northern Minnesota. They’ve proven themselves as a business and as a bank with their growth and have maintained their personal touch—it’s impressive.”

Joe Bauer close up

Joe Bauer

Office: 651.643.8494
Email: joe.bauer@deerwoodbank.com

Joe Bauer is the Metro Market President for Deerwood Bank. He is based in Mendota Heights and has been with Deerwood since 2007. Joe graduated from St. Cloud State University with a bachelor’s degree in Economics. He then went on to obtain his MBA in Finance and Strategic Management from the Carlson School of Management at the University of Minnesota. Joe is actively involved in the sports that his children participate in. In his spare time, Joe enjoys working out and taking walks with his wife, Jeannie, and their dog, Rex.

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