We Are Ceylon

Here at the State Bank of Ceylon, our mission is to provide simple and workable financial solutions for our unique and changing communities. We are not your typical bank. We are a community bank that abides by the philosophy that all families and communities should have access to credit in order to pursue the American dream of ownership in homes & businesses and maximize their contribution to our shared ecosystem. Our core values include solidarity: taking a team approach to accomplish more together; and human dignity: recognizing the uniqueness of every individual. We were founded in 1901 on personal service & customer care and we still live by those principles today. Please stop in and meet our friendly staff who are willing to work hard to meet your banking needs.

Bank Holding Company Directors

Matthew Moran

Matthew Moran

Chairman of the Board

Kevin Johnston

Kevin Johnston

Secretary of the Board

Gellert Dornay

Gellert Dornay

Director

Bob Cumming

Bob Cumming

Director

Bank Directors

Matthew Moran

Matthew Moran

Chairman of the Board

Kevin Johnston

Kevin Johnston

Secretary of the Board

Gregory Bents

Gregory Bents

Director

Ellen Muller

Ellen Muller

Director

Bob Cumming

Bob Cumming

Director

Charles (Chuck) Champine

Chuck Champine

Director

Scott Herum

Scott Herum

Director

Our Team

Matthew Moran

Matthew Moran

Chief Executive Officer, President

Kevin Johnston

Kevin Johnston

Chief Operating Officer, Executive Vice President

Kristy Ybarra

Kristy Ybarra

Chief Risk Officer, Executive Vice President

Greg Bents

Gregory Bents

Loan Officer, Vice President

Kevin Jensen

Kevin Jensen

Loan Officer, Vice President

Ellen Muller

Ellen Muller

Operations Manager

Naff

Ted Naff

Loan Officer

Hurt

Stacy Hurt

Residential Operations

Stromvig

Cameron Stromvig

Loan Officer

Rachel Ulfers

Rachel Ulfers

Loan Processor

Danyka Tagg

Danyka Tagg

Loan Closer

Doris Rosener

Doris Rosener

Operations Specialist

Rita Beckendorf

Rita Beckendorf

Assistant Cashier

Katherine Johnson

Katherine Johnson

Operations Assistant

Rose Hovick

Rose Hovick

Operations Assistant

Katie Stelter

Katie Stelter

Loan Operations Assistant

Matthew Moran

Matthew Moran

Chairman of the Board

Matthew Moran is the President and CEO responsible for all aspects of bank operations including credit, investments, deposits, and our most important asset – people. With more than 30 years of banking experience, Matthew joined State Bank of Ceylon as President and CEO in February 2019. As a community banker, he values relationships and the opportunity to personalize credit solutions for his customers. He previously served as Executive Vice President and Chief Credit Officer at Anchor Bancorp in Lacey, WA and prior to that with Sound Community Bank from May 2007 through October 2014. Before joining Sound Community Bank, Matthew was a Senior Examiner and Credit Specialist for one year with the Office of Thrift Supervision which has since been merged into the Office of the Comptroller of the Currency (OCC).

From 2004 to 2006, he was Vice President for Commercial Credit for Inland Northwest Bank. From 2001 to 2004, he was Vice President and Team Leader with Community Bancshares, a $350 million community bank in southeast Washington where he was responsible for all new credit development. In addition, Matthew was with First National Bank of Omaha as the Asset/Liability Manager for the consolidated entities under First National Nebraska, Inc., a $10 billion bank holding company. Prior to that, Matthew spent six years as a National Bank Examiner with the OCC where in addition to his Safety and Soundness responsibilities, he also served as a specialist in the Large Bank Capital Markets Examination Program.

Matthew is a graduate of Seattle University where he earned his Bachelors in Business Administration in Finance. In 2010 he graduated from the Pacific Coast Banking School, which is affiliated with the Foster Graduate School of Business at the University of Washington. A native of Ketchikan, Alaska, Matthew and his wife Anne are the parents of five children. He enjoys spending time with his family, fishing, traveling, cycling, and is an avid reader.

Kevin Johnston

Kevin Johnston

Secretary of the Board

Kevin Johnston began his banking career in 2012 as a commercial loan officer with Sound Community Bank in Seattle. He started knowing almost nothing about finance, developing a specialty in commercial construction and multifamily real estate within a few years. After moving on to Anchor Bank, Kevin was able to assist in the careful but substantial growth of the bank’s commercial portfolio, which allowed the sale of the bank in 2018.

Kevin is a member of the Washington State Bar Association. He is a graduate of Gonzaga School of Law and the University of Portland. He lives with his wife and two children in Issaquah, Washington. When not at work, Kevin enjoys traveling, reading, music, and spending time with his family.

Gellert Dornay

Gellert Dornay

Director

Gellert Dornay serves as Chairman of the board for the State Bank of Ceylon assisting the CEO in strategic direction and governance. Gellert starting roasting coffee for Java Trading Co. at the age of 19 and took on various roles as he helped grow the company over the following 15 years to a leader in specialty coffee across the US and parts of Europe and Asia.

He subsequently co-founded a mortgage bank, Axia Home Loans, and led the company for ten years in contributing to the rebuilding of the residential mortgage marketplace. Gellert has a strong affinity for principled entrepreneurship which led to the decision to turn Axia over to the employees through an Employee Stock Ownership Plan.

Gellert also serves on numerous profit and non-profit boards and is interested in promoting the dignity of every human person. He and his wife Elizabeth home school their 10 kids on Mercer Island, Washington.

Bob Cumming

Bob Cumming

Director

Robert "Bob" Cumming is the owner and operator of Acme Homes, LLC, a builder with sales of around 100 homes per year. His supplementary business, Acme Drywall, is one of the largest drywall companies in the state of Washington. Bob is an expert in construction, land development, and single-family real estate in the suburbs of Seattle. He has broad connections across the construction and its supplementary industries, from financing to suppliers and subcontractors to national builders to local government officials.

Bob is widely respected as an efficient builder of quality homes in King and Snohomish counties, with his wife Jennifer acting as the real estate agent on the sale of completed homes. Bob is a graduate of Central Washington University, in the area of construction management.

Matthew Moran

Matthew Moran

Chairman of the Board

Matthew Moran is the President and CEO responsible for all aspects of bank operations including credit, investments, deposits, and our most important asset – people. With more than 30 years of banking experience, Matthew joined State Bank of Ceylon as President and CEO in February 2019. As a community banker, he values relationships and the opportunity to personalize credit solutions for his customers. He previously served as Executive Vice President and Chief Credit Officer at Anchor Bancorp in Lacey, WA and prior to that with Sound Community Bank from May 2007 through October 2014. Before joining Sound Community Bank, Matthew was a Senior Examiner and Credit Specialist for one year with the Office of Thrift Supervision which has since been merged into the Office of the Comptroller of the Currency (OCC).

From 2004 to 2006, he was Vice President for Commercial Credit for Inland Northwest Bank. From 2001 to 2004, he was Vice President and Team Leader with Community Bancshares, a $350 million community bank in southeast Washington where he was responsible for all new credit development. In addition, Matthew was with First National Bank of Omaha as the Asset/Liability Manager for the consolidated entities under First National Nebraska, Inc., a $10 billion bank holding company. Prior to that, Matthew spent six years as a National Bank Examiner with the OCC where in addition to his Safety and Soundness responsibilities, he also served as a specialist in the Large Bank Capital Markets Examination Program.

Matthew is a graduate of Seattle University where he earned his Bachelors in Business Administration in Finance. In 2010 he graduated from the Pacific Coast Banking School, which is affiliated with the Foster Graduate School of Business at the University of Washington. A native of Ketchikan, Alaska, Matthew and his wife Anne are the parents of five children. He enjoys spending time with his family, fishing, traveling, cycling, and is an avid reader.

Kevin Johnston

Kevin Johnston

Secretary of the Board

Kevin Johnston began his banking career in 2012 as a commercial loan officer with Sound Community Bank in Seattle. He started knowing almost nothing about finance, developing a specialty in commercial construction and multifamily real estate within a few years. After moving on to Anchor Bank, Kevin was able to assist in the careful but substantial growth of the bank’s commercial portfolio, which allowed the sale of the bank in 2018.

Kevin is a member of the Washington State Bar Association. He is a graduate of Gonzaga School of Law and the University of Portland. He lives with his wife and two children in Issaquah, Washington. When not at work, Kevin enjoys traveling, reading, music, and spending time with his family.

Greg Bents

Gregory Bents

Director

Greg Bents is currently the State Bank of Ceylon’s Vice President and Senior Lender. Greg also serves on the Board of Directors for the Bank. He has lived in Ceylon the majority of his life and has been helping customers with his infectious smile at the bank since 1980. Greg's daughter Clarissa attends Minnesota State University, Mankato.

Ellen Muller

Ellen Muller

Director

Ellen Muller joined the Consulate General of Canada in Minneapolis and their International Business Development section in 2018 where she supports the Canadian Trade Commissioners in targeted areas of Agriculture, Processed Foods, Market Access & Infrastructure; Foreign Investment; Clean Technology and Life Sciences. The team serves trade in Minnesota, Iowa, Nebraska, North Dakota and South Dakota.

Prior to joining the Consulate, Ellen was the Chief Advancement Officer of Jeremiah Program, a national nonprofit dedicated to transforming families from poverty to prosperity, two generations at a time. She developed funding growth strategies by building new individual and organizational relationships with local and national funders and prospects which resulted in over $1.8 million in new funding. Additionally, she designed and raised sponsorship funds for the 20/20 Vision 2Gen Summit - convening thought leaders in the two-generational field across the US; and managed the $2.8 million enterprise wide grant program for Jeremiah's national network, raising 22% more than the previous year.

Before joining Jeremiah, Ellen was the Economic Development Manager for the capital City of Saint Paul, MN, where she was engaged in regional job creation strategies, real estate predevelopment planning, commercial corridor revitalization and site selection options for business.

Ellen launched her career in development and has raised millions of dollars for worthy charities, including the 1991 International Special Olympics Games and as a successful fundraising consultant for the Vietnam Women’s Memorial Project and the U.S. National Ski Hall of Fame. She also was managing broker with GreatMinneapolis™ Real Estate and an executive sales manager for Weekenders USA.

Born and raised in Omaha, Nebraska, Ellen has made Minneapolis her home after earning a B.A. in Humanities from St. Catherine University. She has two grown daughters, Elizabeth Gordon (Boston) and Claire Muller (San Diego).

Bob Cumming

Bob Cumming

Director

Robert "Bob" Cumming is the owner and operator of Acme Homes, LLC, a builder with sales of around 100 homes per year. His supplementary business, Acme Drywall, is one of the largest drywall companies in the state of Washington. Bob is an expert in construction, land development, and single-family real estate in the suburbs of Seattle. He has broad connections across the construction and its supplementary industries, from financing to suppliers and subcontractors to national builders to local government officials.

Bob is widely respected as an efficient builder of quality homes in King and Snohomish counties, with his wife Jennifer acting as the real estate agent on the sale of completed homes. Bob is a graduate of Central Washington University, in the area of construction management.

Charles (Chuck) Champine

Charles "Chuck" Champine

Director

Chuck Champine has been a lifetime resident of the Ceylon and Dolliver area. He attended Dunwoody College and became an electrician. In 1977 he was given the opportunity to farm the family farm until it was sold in 2002.

He and his wife, Ann, owned and operated CWR Satellites and Spas for over 30 years until he was offered a position as maintenance supervisor at Aero Race Wheels, where he is currently employed. Chuck enjoys 4-wheeling, boating, and going to Clarinda to visit his daughter. His other daughter lives in Arizona.

Scott Herum

Scott Herum

Director

Scott has been a lifelong resident of Dolliver, Iowa. He studied finance at Buena Vista University and The University of Northern Iowa. In 1993 he began his career in agriculture. The farming operation now includes land in five counties in Iowa and Minnesota. Scott also owns a trucking company with a mix of owner/operators and his trucks with nationwide authority.

Scott has three children. His son Drew is involved in the farming and is an owner/operator in the trucking company. Emily is attending the University of Iowa double majoring in Biochemistry and Trumpet Performance. Ethan is in high school and works in the farming operation as often as possible.

Matthew Moran

Matthew Moran

Chief Executive Officer, President

Matthew Moran is the President and CEO responsible for all aspects of bank operations including credit, investments, deposits, and our most important asset – people. With more than 30 years of banking experience, Matthew joined State Bank of Ceylon as President and CEO in February 2019. As a community banker, he values relationships and the opportunity to personalize credit solutions for his customers. He previously served as Executive Vice President and Chief Credit Officer at Anchor Bancorp in Lacey, WA and prior to that with Sound Community Bank from May 2007 through October 2014. Before joining Sound Community Bank, Matthew was a Senior Examiner and Credit Specialist for one year with the Office of Thrift Supervision which has since been merged into the Office of the Comptroller of the Currency (OCC).

From 2004 to 2006, he was Vice President for Commercial Credit for Inland Northwest Bank. From 2001 to 2004, he was Vice President and Team Leader with Community Bancshares, a $350 million community bank in southeast Washington where he was responsible for all new credit development. In addition, Matthew was with First National Bank of Omaha as the Asset/Liability Manager for the consolidated entities under First National Nebraska, Inc., a $10 billion bank holding company. Prior to that, Matthew spent six years as a National Bank Examiner with the OCC where in addition to his Safety and Soundness responsibilities, he also served as a specialist in the Large Bank Capital Markets Examination Program.

Matthew is a graduate of Seattle University where he earned his Bachelors in Business Administration in Finance. In 2010 he graduated from the Pacific Coast Banking School, which is affiliated with the Foster Graduate School of Business at the University of Washington. A native of Ketchikan, Alaska, Matthew and his wife Anne are the parents of five children. He enjoys spending time with his family, fishing, traveling, cycling, and is an avid reader.

Kevin Johnston

Kevin Johnston

Chief Operating Officer, Executive Vice President

Kevin Johnston began his banking career in 2012 as a commercial loan officer with Sound Community Bank in Seattle. He started knowing almost nothing about finance, developing a specialty in commercial construction and multifamily real estate within a few years. After moving on to Anchor Bank, Kevin was able to assist in the careful but substantial growth of the bank’s commercial portfolio, which allowed the sale of the bank in 2018.

Kevin is a member of the Washington State Bar Association. He is a graduate of Gonzaga School of Law and the University of Portland. He lives with his wife and two children in Issaquah, Washington. When not at work, Kevin enjoys traveling, reading, music, and spending time with his family.

Kristy Ybarra

Kristy Ybarra

Chief Risk Officer, Executive Vice President

Kristy Ybarra started her banking career in 1987 while 15 years old as a part time teller at Marblehead Savings Bank in Marblehead, Massachusetts. A seasoned Commercial Banker with a career focus on leadership, risk management, credit administration, underwriting, and cashflow analysis, she brings over 26 years of experience to State Bank of Ceylon.

She is drawn to the analytical side of finance, where numbers tell a story and she gets to help make it all meaningful. Kristy’s most recent experience was as the Director of Business Services at America’s Credit Union where she built the department from the ground up. Previously, she has worked with financial institutions to streamline processes, improve analysis accuracy and audit ratings, and lower collateral risk.

Kristy studied business management & accounting at Salem State College in Salem, Massachusetts. She enjoys spending time with her three children and partner, weightlifting, and discovering new wines.

Gregory Bents

Gregory Bents

Loan Officer, Vice President

Greg Bents is currently the State Bank of Ceylon’s Vice President and Senior Lender. Greg also serves on the Board of Directors for the Bank. He has lived in Ceylon the majority of his life and has been helping customers with his infectious smile at the bank since 1980. Greg's daughter Clarissa attends Minnesota State University, Mankato.

Kevin Jensen

Kevin Jensen

Loan Officer, Vice President

Kevin Jensen began his banking career in 2004 in Washington Mutual’s PACE program. In 2006, Kevin joined a boutique lender in Bellevue, WA and began to focus exclusively on residential lending. Between 2010 and 2012, Kevin worked for JPMorgan Chase as a Sr. Residential Lender, and eventually a Chase Private Client Lender.

In 2012, Kevin started at Sound Community Bank in Seattle, WA where he learned portfolio and construction lending. It was also at this time when Kevin found a deep appreciation for community banking and how important these banks are to the health and growth of their communities. After a brief period at Opes Advisors, Kevin joined Anchor Bank in Lacey, WA as the Residential Lending Manager where he worked until the bank was sold in 2018.

Kevin graduated from the University of Wisconsin – LaCrosse with a degree in Business Administration – Management Information Systems. He and his wife are 20-year residents of the Pacific and Inland Northwest and have three children that keep them busy.

Ellen Muller

Ellen Muller

Operations Manager

Ellen Muller joined the Consulate General of Canada in Minneapolis and their International Business Development section in 2018 where she supports the Canadian Trade Commissioners in targeted areas of Agriculture, Processed Foods, Market Access & Infrastructure; Foreign Investment; Clean Technology and Life Sciences. The team serves trade in Minnesota, Iowa, Nebraska, North Dakota and South Dakota.

Prior to joining the Consulate, Ellen was the Chief Advancement Officer of Jeremiah Program, a national nonprofit dedicated to transforming families from poverty to prosperity, two generations at a time. She developed funding growth strategies by building new individual and organizational relationships with local and national funders and prospects which resulted in over $1.8 million in new funding. Additionally, she designed and raised sponsorship funds for the 20/20 Vision 2Gen Summit - convening thought leaders in the two-generational field across the US; and managed the $2.8 million enterprise wide grant program for Jeremiah's national network, raising 22% more than the previous year.

Before joining Jeremiah, Ellen was the Economic Development Manager for the capital City of Saint Paul, MN, where she was engaged in regional job creation strategies, real estate predevelopment planning, commercial corridor revitalization and site selection options for business.

Ellen launched her career in development and has raised millions of dollars for worthy charities, including the 1991 International Special Olympics Games and as a successful fundraising consultant for the Vietnam Women’s Memorial Project and the U.S. National Ski Hall of Fame. She also was managing broker with GreatMinneapolis™ Real Estate and an executive sales manager for Weekenders USA.

Born and raised in Omaha, Nebraska, Ellen has made Minneapolis her home after earning a B.A. in Humanities from St. Catherine University. She has two grown daughters, Elizabeth Gordon (Boston) and Claire Muller (San Diego).

Ted Naff

Ted Naff

Loan Officer

Ted started working for his parents’ mortgage business in the Seattle area in 1994, shortly after graduating from college. He began as a loan officer and in a few years was managing and growing the company. In 2007 he started a new mortgage company, Axia Home Loans, with his friend, Gellert Dornay. In 2009 Ted retired from his position as President and returned to what he likes best, helping his clients find the best mortgage for their families.

Ted has a BA in Liberal Arts from St. John’s College in Annapolis, MD and has an MA in Theology from Holy Apostles College. During his free time he likes to help his wife Sarah and his 3 boys maintain the family homestead – which keeps them busy with lots of animals and gardens.

Stacy Hurt

Stacy Hurt

Residential Operations

Stacy Hurt began working in the mortgage industry in 2000 in Denver, CO and currently resides in Grand Forks, ND. She has two daughters, two son-in-law, and 6 grandchildren she enjoys spending time with. She has wanderlust for traveling, loves to be on the water floating and fishing, gardening and almost anything that keeps her active and outdoors. She is active with different charities including No Child Left Hungry.

Cameron Stromvig

Cameron Stromvig

Loan Officer

Cameron recently joined the world of banking, after working for his family business in Portland, Oregon. He graduated from University of Oregon in 2016, with a degree in Social Science. He has spent the last three years building his dad’s executive town car service company. From payroll, to employee management, and day-to-day operations, Cameron has experience wearing many hats.

Cameron got married to wife Hannah, and became a father to Adeline (1) this past year. The two dream of someday owning land, where they can spend weekends and summers outdoors. Outside of Cameron’s professional skills, he calls himself a ‘hot sauce connoisseur’.

Rachel Ulfers

Rachel Ulfers

Loan Processor

Rachel started her banking career in an operations role at TCF after graduating with a degree in Marketing in 2017. After developing an interest in mortgage lending, she worked at a local credit union as a home equity loan processor and underwriter. She developed an appreciation for community banking in this role after seeing how it helped members improve their financial situations and reach their goals.

When she's not at work, Rachel can be found watching baseball and playing with her yellow lab, Wrigley. She also enjoys photography and spending time with friends and family.

Danyka Tagg

Danyka Tagg

Loan Closer

Danyka grew up in Snohomish, WA and attended Western Washington University for business management. She is new to Idaho, and happy to be in such a beautiful state. She’s been a loan closer for over 2 years now and loves helping customers sign for their home purchases or refinances.

In her free time she enjoys traveling and spending time with her family.

Doris Rosener

Doris Rosener

Operations Specialist

Doris Rosener has enjoyed working in the community of Ceylon at the bank for 36 years. Tony, her husband, taught school and coached several sports in Ceylon and the Fairmont Area District. Their son, Brad, lives in Port St. Lucie, FL. That makes a good excuse for them to do one of their favorite things…travel!

Rita Beckendorf

Rita Beckendorf

Assistant Cashier

Rita Beckendorf moved to Ceylon, MN in 1978 after marrying Tom Beckendorf. Her husband, Tom, is a plumber. They have two sons. Justin lives in Sioux Falls, SD and Nick lives in Rochester, MN. Rita has worked at the bank since 1998.

Katherine Johnson

Katherine Johnson

Operations Assistant

Katherine enjoys playing golf and has played the last 3 years for Waldorf University on scholarship. She is graduating with a Bachelors Degree in Business with a focus in Banking and Finance. She grew up in Estherville, Iowa just 25 minutes away from Ceylon. Katherine also enjoys going to concerts and spending time with her family and friends.

Rose Hovick

Rose Hovick

Operations Assistant

Rose grew up in Ceylon. She and her husband, Tom, have 2 children - Jordan lives in Mankato and Zachary lives in Blue Earth. Rose enjoys reading, scrapbooking, golfing, almost anything that involves being crafty and traveling.

Katie Stelter

Katie Stelter

Loan Operations Assistant

Katie Stelter originally grew up in Lakota, IA. She currently lives North of Dolliver. Katie enjoys going to concerts, being outdoors, and camping!

Hours & Location

  • Hours of Operation
  • Monday - Friday: 8:45am - 3pm
  • Wednesday: 8:45am - 5:30pm
  • Saturday & Sunday: Closed
  • All Federal Holidays: Closed
  • Headquarters
  • 104 West Main Street
  • Ceylon, MN 56121
  • Contact Info
  • Phone: 507-632-4242
  • Fax: 507-632-4244

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