Business & Commercial Loans

Grow your business with First National Bank of River Falls.

FNBRF assists businesses of all sizes with business and commercial loan services to fit the financial needs of your business. Contact a commercial lender for personal assistance with questions on business loans & financing.

  • First or subsequent mortgages
  • Expansion projects
  • Construction projects
  • Equipment
  • Working capital
  • SBA Loans

Starting the process? Gather up:

  • The Personal Financial Statement
  • 3 years of Personal Tax Returns
  • 3 years of Business Tax Returns
  • Current Interim Financial on Business

Meet Our Commercial Loan Officers

View Bio

Matt Russell

Executive Vice President & Chief Credit Officer


River Falls Office
715.426.3122 Contact Matt
Matt Russell

Executive Vice President & Chief Credit Officer

Phone: 715.426.3122
Office: River Falls Office
Email: Matt Russell

Matt is a graduate of Eastern Illinois University with a major in Finance and a minor in Economics. He's been married to his high school sweetheart for thirty-five years and the couple share three children and two grandchildren. Matt's professional career includes three decades plus of banking experience. His volunteer efforts include the River Falls Rotary Club, St. Bridget's Catholic Church Finance Council and work with numerous other past organizations. In addition to spending time with his family, Matt spends his time traveling, hiking, kayaking, reading and following St. Louis Cardinals baseball and Green Bay Packers football. Matt's commitment to finding financial solutions for his customers and helping to make their dreams a reality is what he enjoys most about his job. He appreciates all the opportunity the St. Croix Valley offers in education, recreation and community focus, and is happy to give back as part of the FNBRF family.

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Melissa Godden

Vice President & Commercial Loan Officer


River Falls Office
715.426.3169 Contact Melissa
Melissa Godden

Vice President & Commercial Loan Officer

Phone: 715.426.3169
Office: River Falls Office
Email: Melissa Godden

Melissa is both a graduate of River Falls High School and Madison’s Graduate School of Banking. She and her husband have been together for over 30 years and are proud parents of twin boys. Melissa brings 26 years of banking experience to FNBRF. She’s also either been or is currently involved with the River Falls Chamber of Commerce, Back To School Night, Forward Foundation, and River Falls Sunshine Fund. Time away from work is also spent running to different sporting events, working in the yard, spending time with family and friends, vacationing and maybe a round of golf. Melissa likes helping FNBRF customers with their various business needs, building relationships and partnering in their success. She appreciates the FNBRF family’s flexibility that allows her to not be just an employee, but a parent, a volunteer and so much more.

View Bio

Michael Grove

Vice President & Commercial Loan Officer


River Falls Office
715.426.3144 Contact Michael
Michael Grove

Vice President & Commercial Loan Officer

Phone: 715.426.3144
Office: River Falls Office
Email: Michael Grove

Mike has a Bachelor of Science in Finance from Minnesota State University at Mankato and completed Graduate School of Banking in Boulder, Colorado. He and his wife have two adult children. Mike has 30 years of lending experience and is a retired LTC from the MN Army National Guard with 21 years of service. He is currently board chair for the MN Southeast State College Foundation, treasurer for CARE Clinic, a free medical and dental clinic based in Red Wing, MN, and a community board member for Mayo Health Systems. He is also the treasurer of his church and previous chair of the Red Wing Chamber of Commerce Board of Directors and a Board member for 6 years. Mike likes spending time with friends, running and anything with water; namely boating, kayaking, swimming and SCUBA diving. Working with business clients on achieving their dreams is what drives Mike each day at FNBRF. He feels community banking is being a part of the community in all aspects. That includes investing time and assets to improve the cities, villages and towns that FNBRF serves.

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Dave Hirstein

Vice President & Commercial Loan Officer


River Falls Office
715.426.3171 Contact Dave
Dave Hirstein

Vice President & Commercial Loan Officer

Phone: 715.426.3171
Office: River Falls Office
Email: Dave Hirstein

Dave is a graduate of River Falls High School and UW-River Falls with a B.S. in Business Marketing. He and his wife have five children and Dave has been working in the banking industry for nearly 20 years. He serves on the board for both River Falls Youth Boys Basketball and River Falls Youth Softball. Like many fathers, Dave is busy coaching youth sports, running kids to events and spending time with family. He loves helping people financially in either starting a business or adding something to their existing business. To Dave, banking is only a piece of the puzzle when it comes to defining community banking. It’s also being active in the community in any other way one is able. That commitment to community is what contributes to the ultimate family feel of FNBRF as not only a place to work but an organization that truly makes a difference.

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Chad Steger

Commercial & Consumer Loan Officer


Prescott Office
715.262.8353
NMLS# 1396916
Contact Chad
Chad Steger

Commercial & Consumer Loan Officer

Phone: 715.262.8353
Office: Prescott Office
Email: Chad Steger
NMLS#: 1396916

A Prescott native, Chad holds degrees in CAD Drafting and Business Administration and has 11 years of banking experience, eight of which have been at FNBRF. In addition to being a Commercial and Consumer Loan Officer at FNBRF, he is a former president and current board member of the Prescott Chamber of Commerce. Outside of work, Chad’s daughter keeps him busy, whether it’s riding bike or any activity involving horses. He is also a competitive volleyball player and an avid hunter. Chad believes the people are what make our community great and appreciates that FNBRF’s supports both customers and employees as a family-first business.