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LAUREL — A business that has quietly shaped the local economy for nearly a century is now getting its moment in the spotlight. The Laurel Chamber Community Club has named Security Bank the Laurel Area Business of the Year, honoring the bank’s long-standing commitment to community, agriculture and relationship-based service.
Emcee Jeremy Christiansen said the award recognizes businesses that make meaningful contributions to the Laurel area and help strengthen the local economy.
Security Bank was founded in 1928 with a simple but powerful purpose: to serve Northeast Nebraska communities with integrity, trust and a deep understanding of local needs.
That mission took on new momentum in 1973, when Richard E. Adkins Sr., his family and local investors purchased the bank. Adkins was a strong advocate for agriculture and community banking, believing local banks grow stronger by investing in the people and industries they serve. His leadership helped shape Security Bank into a trusted partner for rural families, farms and businesses.
Following his passing in 1980, his son, Richard “Rick” Adkins Jr., carried the legacy forward, first as president and later as chairman. He continued to build on family values, relationship-driven banking and a deep commitment to community. Under his leadership, Security Bank expanded while remaining firmly rooted in Northeast Nebraska agriculture and small business.
In 2013, leadership transitioned to Keith Knudsen as president and CEO, while Rick Adkins remained chairman of the board. The move ensured continuity while allowing the bank to continue advancing innovation, culture and strategic growth.
A defining chapter in the Adkins family legacy came in 2018,when the family sold 10 percent of the bank to employees,reflecting a belief that those who serve the community every day should share in the bank’s success. That commitment grew in 2021 with an additional 22 percent ownership transition, bringing total employee ownership to 32 percent. The decisions were values-driven, aimed at preserving local ownership, protecting the bank’s culture and ensuring long-term independence.
In June 2022, Security Bank expanded its services by acquiring a local wealth management business. Five employees joined the bank and were fully integrated into its operations, strengthening the bank’s ability to provide comprehensive financial solutions.
Beyond traditional banking, Security Bank also serves as a leader and educator. Its annual Agribusiness Conference brings nearly 200 producers, industry experts and economists together each year to share insight and strategies tailored to the region. The bank also supports financial literacy efforts in local schools and remains active in community events, volunteer leadership and board service.
Security Bank has been recognized as an Extraordinary Bank of the Year and a Hall of Fame inductee. Bank officials say those achievements are rooted in the dedication of their employees.
Today, Security Bank serves five communities: Laurel, Allen, Osmond, Hartington and Coleridge.
Previous Laurel Area Business of the Year recipients include Hefty Seed Company (2022), Hansen Brothers Parts & Service (2023) and North Side Grain (2024).
