Chuck Mueller could hardly fault his customers for pulling their deposits from his bank. If the president and CEO of Fidelity Bank, Edina, Minn., had been in their position, he quite possibly would have done the same thing.
Some of the largest depositors at Fidelity Bank were neither upset with its staff nor seeking better rates elsewhere. They had no qualm whatsoever with Mueller’s $435.9 million organization, aside from its state charter within Minnesota and the effect such had regarding residency factors issued by the Department of Revenue.
One of those 26 factors when considering residency status was . . .
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