ST. PAUL, Minn. — AgriBank, a major agricultural lender and one of the largest banks in the Farm Credit System, will relocate its headquarters from downtown St. Paul to Richfield by August 2026, ending nearly six decades of operations in the capital city.
The customer-owned cooperative, which provides wholesale lending to Farm Credit Associations across 15 states, will move its 148 employees to a 54,700-square-foot space in the recently renovated Meridian Crossings business complex in Richfield, a southern suburb of Minneapolis. The relocation was first reported by the Minneapolis-St. Paul Business Journal and later confirmed by AgriBank through a job posting on ZipRecruiter.
AgriBank’s St. Paul Legacy
AgriBank, formerly known as the Farm Credit Bank of St. Paul, has been a fixture in the city since 1967. The bank initially operated from 375 Jackson St. Before moving to its current location at Wells Fargo Place, 30 East Seventh St., in 2011. The four-floor office in downtown St. Paul has served as its headquarters for over a decade, housing operations that support agricultural financing across the Midwest and beyond.
As a wholesale lender, AgriBank does not provide direct loans to farmers but instead funds Farm Credit Associations, which in turn offer financing to farmers, ranchers, rural homeowners and agricultural businesses. The bank holds approximately $200 billion in assets, including $177.9 billion in loans, according to its 2025 annual report. Its departure from St. Paul marks the end of a long-standing presence in the city’s financial sector.
Relocation Details and Workforce Impact
The move to Richfield will consolidate AgriBank’s operations into two levels of the Meridian Crossings complex, located near the intersection of Interstates 35W and 494. The new space, totaling 54,700 square feet, was previously occupied by U.S. Bancorp, which vacated the site earlier this year. The relocation is expected to be completed by August 2026, with employees transitioning to the new location before the fall.
AgriBank’s workforce has grown in recent years, increasing from 135 employees in 2023 to 148 in 2025. The bank has not indicated any plans to reduce staffing as part of the relocation. A notice on ZipRecruiter stated, AgriBank is currently headquartered in downtown St. Paul. Please be aware that we will be relocating to Richfield, MN in August 2026.
Implications for Downtown St. Paul
The departure of AgriBank adds to a growing list of businesses relocating from downtown St. Paul in recent years. The loss of a major financial institution with nearly 150 employees could have ripple effects on the local economy, including reduced foot traffic for nearby businesses and a potential decline in office occupancy rates. The city has struggled to retain corporate tenants amid shifting workplace trends and competition from suburban markets offering lower costs and modern amenities.
Richfield, by contrast, has positioned itself as a hub for corporate relocations, with its proximity to Minneapolis-St. Paul International Airport and major highways making it an attractive alternative to downtown locations. The Meridian Crossings complex, where AgriBank will settle, has undergone significant renovations to attract businesses seeking updated office spaces.
What’s Next for AgriBank
AgriBank has not publicly disclosed the specific reasons behind its relocation, though industry analysts suggest factors such as cost savings, modernized office space, and improved accessibility may have played a role. The bank’s decision aligns with broader trends of financial institutions and corporations moving from urban cores to suburban areas with lower overhead and enhanced infrastructure.
For now, the bank’s operations will continue uninterrupted in St. Paul until the move is finalized. Employees have been informed of the transition, and AgriBank has indicated that the relocation will not disrupt its lending services to Farm Credit Associations or their customers.
The shift to Richfield marks a new chapter for AgriBank, which remains one of the four largest banks in the Farm Credit System. While its physical presence in St. Paul will soon end, its role in supporting agricultural financing across its 15-state territory will continue from its new headquarters.