PT.Bank Pembangunan Daerah Sulawesi Utara or known as Bank Sulut founded as Bank Pembangunan Daerah Sulawesi Utara Tengah based on certificate No. 88 on March 17, 1961 by Raden Hadiwido, replacement notary from Raden Kardiman in Jakarta. Later was fixed by Alteration Act of Basis Budget No. 22 on August 4, 1961 by Notary Raden Kardiman in Jakarta, and Alteration Act of Basic Budget No. 46 on October 10, 1961 by Raden Hadiwido as a successor of Raden Kadiman which has been legalized from Ministry of Justice, Republic of Indonesia with Regulation No. J.A.5/ 109 / 6 on October 13, 1961.
 

Based on Constitution No. 13, 1962 concerning the Primary Regulation of Local Development Bank, and Constitution No. 13, 1964 about reforming province of North Sulawesi turned into Local Corporation of Bank Pembangunan Daerah Sulawesi Utara according to Local Regulation on June 2, 1964 with the alteration and it was changed based on the local Regulation no.1, 1999 about the corporate change of Bank Pembangunan Daerah Sulawesi Utara which became as the Local Corporation into the Limited Company
As a Limited Company, then the establishment of Bank Sulut was set by Notary deed No. 7 on April 14, 1999 made in front of Notary Joanes Tommy Lasut, SH., in Manado legalized by Ministry of Justice, Republic of Indonesia with decree No. C-8296.HT.01.01.TH`99 on May 14, 1999 and has been published at the State Gazette No. 63 on August 6, 1999 and Additional State Gazette No. 4722. The statutory capital was decided Rp. 100 billion with ownership from the Province, the Regency, and the Municipality. Shareholders Serie A has maximum 55% and the Serie B with Third Party including cooperation has maximum 45%. The shares was dived into the Serie A total 550.000 with nominal point @ Rp.100.000,- (a hundred million rupiah) and the Seri B as 450.000 with nominal point @ Rp.100.000,- (a hundred million rupiah). The corporate changes of Bank Sulut is a must in order to meet one of requirement to attend the banking recapitalization program as a result of Bank Sulut face the risk of minimum capital required obligation (KPPM) less than 8%. According to Local Regulation No. 84, 1998 regarding The Program of Commercial Bank recapitalization, Common Decree of Ministry of Finance and Governor of Bank Indonesia No.135/KMK.017/1999 and No.32/17/KEP/GBI dated 9 April 1999, Bank Sulut has signed Agreement of Recapitalization. In 2004, The Indonesian Government through Ministry of Finance has divested all state Share of Bank Sulut based on Sales Agreement of All State Stocks and The Settle of State Obligation at Bank Sulut Limited Inc. on June 30, 2004.
After Bank Sulut seceded from banking recapitalization program, it was several changed on statue related to structure of shareholder ownership after state divestment, and last increasing the statutory capital from Rp.100 billion to Rp.300 billion who has been agreed by Ministry of Justice and Human Right, Republic of Indonesia No. C-24640 HT.01.04.TH.2006 on August 23, 2006 and published on State Gazette on October 23, 2006 No. 85 additions No.11432/2006