The current structure of American Bank is actually made up of three banks—Itasca State Bank, American Bank of the North, and Mt. Iron First State Bank.

Itasca State Bank opened in 1980 in Calumet, MN. In 1982, Itasca State Bank opened their second locations in Grand Rapids, MN and in Bovey, MN in 2002.

American National Bank in Nashwauk, MN, was purchased in 1989 and the name was changed to American Bank of the North. Offices were acquired in Keewatin in 1993, in downtown Hibbing in 1998, and a branch was opened in the Wal-Mart store in 2001.

In 1992, American Bank of the North purchased the First National Bank of Nashwauk as well as Mt. Iron First State Bank; whose name remained the same. Branch offices were acquired or opened in Biwabik, Orr and Cook.

In April of 2002, the three Mesaba Banks merged to form the present day American Bank of the North. Since the merger, American Bank of the North has re-aligned duties and functions to act as one bank.  Some offices mentioned above have since been closed.