First National Bank, Foley, MN (Charter 7933)

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ca. 1910 postcard of the First National Bank building.

First National Bank, Foley, MN (Chartered 1905 - Receivership 1934)

Town History

2006 photo of the old First National Bank building.

Foley is the county seat of Benton County and is located in the central part of Minnesota. Foley was named after its founder John Foley, who led the successful drive to move the county seat from Sauk Rapids to Foley in 1901.

The Village of Foley was incorporated on March 21, 1900.

During the National Bank Note Era Foley had a population of 172 in 1900, climbing to 798 in 1930. As of 2020 the population is 2,711.

First National Bank was the only National Bank in Foley, and the only National Bank in Benton County that issued National Bank Notes.

Bank History

  • Organized Aug 25, 1905
  • Chartered Oct 3, 1905
  • Opened for business Nov 6, 1905
  • Conservatorship May 1, 1933
  • Receivership Sep 20, 1934

Official Bank Title(s)

1: The First National Bank of Foley, MN

Bank Note Types Issued

$10 1902PB issued by the First National Bank of Foley with pen signatures of B. H. Mushel, Cashier and John F. Hall, President
$20 1929T1 issued by the First National Bank of Foley with printed signatures of B. H. Mushel, Cashier and John F. Hall, President

A total of $301,140 in National Bank Notes was issued by this bank between 1905 and 1934. This consisted of a total of 24,210 notes (20,160 large size and 4,050 small size notes).

This bank issued the following Types and Denominations of bank notes:

Series/Type Sheet/Denoms Serial#s
1902 Red Seal 3x10-20 1 - 850
1902 Date Back 3x10-20 1 - 1620
1902 Plain Back 3x10-20 1621 - 4190
1929 Type 1 6x10 1 - 531
1929 Type 1 6x20 1 - 144

Bank Presidents and Cashiers

First National Bank Presidents and Cashiers during the National Bank Note Era (1905 - 1934):

Presidents:

Cashiers:

Other Bank Note Signers

  • There are currently no known Vice President or Assistant Cashier bank note signers for this bank.

Wiki Links

References

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