Learn the Facts and How We're Prepared

At American Bank, the health and safety of our customers, employees and the communities we serve is our top priority. We understand the concern and uncertainty you may be experiencing surrounding the coronavirus (COVID-19) and are committed to being responsive to the needs of our customers and employees as the situation evolves.

Here, you’ll be able to find valuable resources, and we will be adding more as they become available.


How American Bank is Prepared

Because we care about the health and safety of our customers, employees and the communities we serve, we've taken steps to ensure we're prepared as the coronavirus situation progresses. We are continuously monitoring information from the Centers of Disease Control (CDC) and World Health Organization (WHO).

We have a business continuity plan in place to protect against significant disruption of business as a result of an unplanned event, such as Coronavirus. The program is fully integrated with our standard operational procedures to ensure critical business functions will go uninterrupted and is optimally maintained through regular testing.

We are continuously monitoring our staffing levels throughout the bank to prevent any disruptions in service due to health reasons. Remote work is available to employees as needed and we ask employees to stay home if they or a family member are not feeling well.

We are also taking precautionary sanitation measures, such as regularly wiping down desks and other surfaces throughout the day, to help prevent the spread of germs.

Together we’re keeping each other healthy!   Our lobbies are open and we have put plans and equipment in place to help protect our employees and you from the spread of COVID-19.

Together We're Keeping Each Other Healthy


A Letter from Our CEO to Our Business Customers


A Letter from Our CEO Regarding our

Open Branch Lobbies


Economic Impact Payments

We’re preparing for the second round of Economic Impact Payments and are ready to support you. 

December 29, 2020, the Internal Revenue Service and the Treasury Department will begin delivering a second round of Economic Impact Payments as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 to millions of Americans who received the first round of payments earlier this year.

The initial direct deposit payments may begin arriving as early as December 29th for some and will continue into next week. Paper checks will begin to be mailed on, Wednesday, December 30.

The IRS emphasizes that there is no action required by eligible individuals to receive this second payment. Some Americans may see the direct deposit payments as pending or as provisional payments in their accounts before the official payment date of January 4, 2021. The IRS reminds taxpayers that the payments are automatic, and they should not contact their financial institutions or the IRS with payment timing questions.

Authorized by the newly enacted COVID-relief legislation, the second round of payments, or “EIP 2,” is generally $600 for singles and $1,200 for married couples filing a joint return. In addition, those with qualifying children will also receive $600 for each qualifying child. Dependents who are 17 and older are not eligible for the child payment.

We encourage you to set up and utilize deposit alerts through online banking.  You will receive a notification alert letting you know your deposit has been posted to your account. We process direct deposit payments Monday through Friday at 8am & 5pm. These are the only times your stimulus payment will post to your account. 
To check the status of your payment:
For up-to-date information:


Mandatory Mask Requirement

July 22nd, Governor Walz issued a statewide mask mandate. People in Minnesota are required to wear a face covering in all public indoor spaces and businesses, unless they are alone. This includes when waiting outside to enter an indoor public space. The mask requirement begins at midnight Friday, July 24. It is set to remain in effect until the state’s peacetime emergency ends.
Exemptions to the order include:

  • People with health conditions that make it difficult to tolerate wearing a face covering.
  • Any person who has trouble breathing or unable to remove the face covering without help.
  • People who at work with jobs where wearing a face covering would create a safety hazard as determined by local, state, or federal regulators or workplace safety guidelines.

In addition, the mandate does not apply to private indoor spaces, including homes, or hotel rooms. There are also lots of situations in which you are allowed to temporarily remove your mask, including:

  • When eating or drinking (provided you can maintain 6 feet of social distance from other people)
  • When you have to show your ID at a bar or enter an event
  • When swimming
  • When communicating with someone who is deaf or hard of hearing
  • When visiting the dentist

You’re also allowed to take off your mask in many different indoor settings, as long as adequate social distancing can be maintained – including:

  • In offices and other work spaces
  • While playing organized sports
  • When taking part in indoor physical exercise, such as in a gym or fitness center
  • When speaking or performing in settings including theaters, news conferences, lectures, concerts and courtroom proceedings

Small Business Disaster Relief 

Small Business Administration (SBA)

Minnesota small businesses and private nonprofits are now eligible to apply for SBA disaster loans. Applicants apply directly to SBA’s Disaster Assistance Program.

Learn More Here

The SBA is not affiliated with American Bank. The products and services provide by the SBA are not affiliated with American Bank. American Bank Member FDIC and Equal Housing Lender.

Paycheck Protection Program (PPP)

Visit our PPP Page for More Information

Minnesota Department of Employment & Economic Development (DEED)

Following Executive Order 20-15, DEED has established a loan program to assist small businesses directly and adversely affected and whose industry is named in Executive Orders 20-04 and 20-08 following the COVID-19 pandemic. Small businesses are a vital part of Minnesota’s economy and this program will provide a source of working capital to help businesses sustain operations during this challenging time.

Businesses should apply directly through a certified lender. A list of lenders and application materials are available on the MN Government DEED website. Nonprofits are not eligible for this program.

**Current loan requests have exceeded funding availability.**

Please visit the MN Government DEED site regularly to learn if the legislature has made additional loan funds available.

Learn More Here

DEED is not affiliated with American Bank. The products and services provide by DEED are not affiliated with American Bank. American Bank Member FDIC and Equal Housing Lender.



The US Chamber of Commerce has issued a guide to help businesses understand the new employee retention tax credit that was passed as part of the CARES Act stimulus package. The program provides a tax credit for businesses who keep their employees on the payroll from March 12, 2020 and January 1, 2021. Here are a few key points we noted in the Employee Retention Tax Credit Guide.

  • Eligible businesses must have had their operations partially or fully suspended by a governmental authority due to COVID-19 OR experience a decline in gross receipts by at least 50% compared to the same quarter in 2019.
  • You may not claim both the Paycheck Protection Program (PPP) loan and this tax credit. You may also not collect this credit if you are also collected the Work Opportunity Tax Credit.
  • The tax credit is for 50% of the first $10,000 in compensation (including employer paid health care benefits) for EACH eligible employee. You cannot count wages paid that the business was reimbursed for through the sick or family leave provisions of the FFCRA.
  • Employee eligibility will vary for employers with more than 100 employees versus 100 or fewer employees. Employers with 100 or fewer employees can claim the credit for all employees, even when only some are providing a service partially or fully suspending by the government. The employer must still meet the eligibility requirement of having partially or fully suspended services or having a 50%+ reduction in gross receipts compared to 2019.

The office of Senator Tina Smith has published a helpful, 4-page overview on the CARES Act.


About Coronavirus (COVID-19)

Because the situation is constantly evolving, it can be difficult to know where to find the most reliable sources of information. At American Bank, we rely on sources like the Centers for Disease Control and Prevention, the World Health Organization.

 It’s important to be sure you’re receiving information about Coronavirus from reliable sources of information to help prevent the spread of misinformation about the evolving situation.


Bank Wherever You Are

We offer convenient ways for customers to bank wherever they are. If you want to avoid public places or can’t make it to the drive-thru, you can use our Online Banking and eMobile Banking.  They are available 24 hours a day, 7 days a week.  Our free Online and eMobile Banking make it easy to view balances, make loan payments, transfer funds and more – no matter where you are.  When you use our mobile app, you can even deposit checks conveniently and securely any time.  We also offer ePay, so you can avoid making the trip to your local post office to send a check in the mail.


Frequently Asked Questions for Bank Customers

The FDIC provided a list of questions frequently ask by bank customers during the coronavirus outbreak.  


Summary of the New Social and

Workplace Guidance Changes

We know there are a lot of different items to track in both our workplace and social settings. The State of Minnesota has developed a matrix summarizing current COVID-19 guidelines and how those are expected to change in future phases of the Stay Safe MN reopening of our economy. DEED has also released a series of PDFs on Industry Guidance for Safely Reopening for a variety of industry types and recreational activities. Click hereto access the guideline documents on business settings and social settings.

Social Gatherings: Effective 10pm 11/13/2020

Social interaction is important for our mental health and well-being. We are at a point where people can start to gather in small groups. If you are hosting or attending a social gathering, follow these tips to help protect yourself and others.

  • Keep your indoor and outdoor gatherings to 10 people or fewer.
  • All social gatherings are limited to members of only three households or less, including the host.
Whether you are indoors or outdoors:
  • People from different households should stay at least 6 feet apart.
    • Set up seating areas ahead of time that allow for space between people.
  • Wear a mask in all public indoor spaces and indoor businesses.  Even in private social settings, wear a mask during times when you can't keep at least 6 feet between people who don't live in your household. 
    • Wear a mask when you arrive, when you leave, and if you have to move around among people.
  • Try to minimize sharing items and equipment with people not in your household. If you do, wash your hands or use hand sanitizer with at least 60% alcohol once you are done.
Remember: Stay home if you are sick and be sure to cover your cough or sneeze with your elbow or a tissue.

Restaurants or Bars: Effective 3/15/2021 at 12pm

Executive Order 21-01 allows restaurants and bars to offer food for indoor and outdoor onsite consumption

Restaurants, cafes, coffeehouses, bars, taverns, brewer taprooms, micro distiller cocktail rooms, farm wineries, craft wineries, cideries, golf courses and clubs, dining clubs, and other places of Public Accommodation that offer food and beverages are allowed to offer food for indoor and outdoor onsite consumption, within the following parameters: 

  • Indoor capacity is limited to no more than 75% of established capacity, up to a maximum of 250 patrons.
  • Outdoor capacity is limited to the number of patrons for whom social distancing of 6 feet can be maintained between parties at different tables, not to exceed 250 people.
  • Social distancing of 6 feet must be maintained between parties.
  • Onsite dining hours are between 4 a.m. and 11 p.mTake-out and delivery may occur after 11 p.m. 
  • Table size must be limited to no more than six people. A party of four may be seated together at a bar or counter.
  • Patrons are required to wear masks indoors, except when eating or drinking.
  • Patrons must be seated in all areas, except for limited games outlined in the COVID-19 Preparedness Plan Requirements for Restaurants and Bars
  • Karaoke is allowed. Performers must wear face coverings, and they must be separated from spectators by at least 12 feet. Please refer to the Music Activities and Performances During COVID-19 document for additional information.
  • Private parties, events, receptions, or other gatherings in private, separate spaces (ballroom or other private room) are allowed if the event adheres to the requirements applicable to Guidance for Entertainment and Meeting Venues, including lower percentage capacity limits and outdoor face covering requirements.

Events, Celebrations, & Parties Must Follow Venue Requirements

Effective March 15, 2021, at 12 p.m.:

Outdoor entertainment is allowed

As summer nears, the state will adjust guidelines for large venues. All venues can open at 50% capacity up to 250 people. Venues with normal occupant capacity over 500 can add additional guests, effective April 1:

  • Seated outdoor venues can add an additional 25% of their capacity over 500, with a limit of 10,000 people.
  • Non-seated outdoor venues can add an additional 15% of their capacity over 500, with a limit of 10,000 people.
Indoor entertainment is allowed

As summer nears, the state will adjust guidelines for large venues. All venues can open at 50% capacity up to 250 people. Venues with normal occupant capacity over 500 can add additional guests, effective April 1:

  • Seated indoor venues can add an additional 15% of their capacity over 500, with a limit of 3,000 people.
  • Non-seated indoor venues can add an additional 10% of their capacity over 500, with a limit of 1,500 people.

Pools requirements have been updated
  • Pools and spa pools may be open at 50% of established capacity with a maximum of 250 patrons.
  • Patrons must maintain 6 feet of social distancing.
  • Group fitness class size in pools is limited to 25 indoors, and 50 outdoors.
  • Two swimmers per lane are allowed for recreational lap swimming.
  • More than one swimmer per lane may be allowed for competitive swim practice if a facility’s COVID-19 Preparedness Plan includes a diagram of proposed lane configurations and a description of how social distancing requirements will be met.
  • Saunas remain closed.

Gyms and Fitness Studios: Effective 12/18/2020
  • Open for individual workouts at 50% capacity/150 people max.  
  • 9 feet physical distancing.
  • Classes increase to 50 people, assuming distancing can be observed.
  • Everyone must be masked
COVID-19 Vaccine Basics
Click HERE to read more information about the COVID-19 vaccine.

Beware of Scammers

Scammers are always looking for opportunities to take advantage of people in times of crisis. Below are some sources from the FTC to help protect you.

Tips to Avoid Coronavirus Scams                                                                  Social Distancing from COVID-19 Robocall Scams                                      Grandparent Scam                                                                                          Avoid SSA Scams During COVID-19                                                                IRS COVID-19 Economic Impact Payments Scams                                  Increased Phishing Fraud Attempts on Credit & Debit Cards                COVID-19 Scams: 10 Tips for the Elderly

Imposter Scams and Money Mule Schemes Related to Coronavirus


Returning to Work Safely - Best Practices

The MN Chamber produced a document that contains information that will help guide employers and employees through the challenges of returning to work safely.  Businesses of all sizes are eager to get back to work and these best practices will help us return to a sustainable level without jeopardizing employees or customer safety.


Resources for Retail Businesses

Best Practices

Required COVID-19 Preparedness Plan

Employee Health Screenings


Support Our Small Businesses

At American Bank we’re committed to being here for our communities.  In times like these we all come together to help each other and at American Bank  we feel now is the time to help those essential small businesses in our communities that are open to help them get the word out.  In April sponsoring full page advertising for essential small businesses to help spread the word that they are open for business!  Click on the links below for a full listing of open restaurants. 

Hibbing/Chisholm/Side Lake/Nashwauk Restaurants 

Grand Rapids/Cohasset/Deer River

Virginia & Surrounding Communities

----------------------------------------------------------------------------------------------------------Other Helpful Resources

  • If you’re a business or a worker who has general questions about how COVID-10 affects business, consult DEED COVID-19 Information page.
  • If you want to know what state government has to offer businesses so far, check out Helping Minnesota Businesses during COVID-19.
  • If you’re a business or a worker who has questions about how unemployment insurance works, consult our Unemployment Insurance FAQs.
  • If you’re going to apply for unemployment benefits, APPLY ONLINE. Phone lines are jammed and have long wait times.
  • For information on delaying your sales and use tax payments see the MN Dept of Revenue Sales and Use Tax page.
  • For information on the federal Families First Coronavirus Response Act (FFCRA) that requires certain employers to provide employees with paid sick leave or family leave related to COVID-19, visit the Department of Labor website.
  • To apply for health insurance through the MNsure marketplace or learn more about who qualifies for the new open enrollment period through April 21st, Click Here.
  • To view daily updates of the number of confirmed cases at a county level, visit the Minnesota Department of Health website.

Coronavirus Response: How to Help

From FEMA: Everyone has a role to play in the whole community fight against COVID-19. Learn how to help if you are a company with medical supplies to donate or sell, a volunteer who is medically trained, or a member of the general public.

From MN: Businesses with special skills or products to donate to help in the crisis, should contact the State Emergency Partnership at

Do's and Don'ts of Wearing a Homemade Mask

Last Updated: March 15, 2021