First National Bank, Holland, MN (Charter 11724)

ca. 1970s photo of the old First National Bank building (Pipestone County Historical Society)

First National Bank, Holland, MN (Chartered 1920 - Receivership 1933)

Town History

Holland is located in Pipestone County in Southwestern Minnesota. The town was laid out in 1888, and incorporated in 1898. A post office has been in operation at Holland since 1889. The town got its name due to a large share of the early settlers being natives of Holland.

During the National Bank Note Era (1863-1935), the population of Holland was 255 in 1900, and 275 in 1930. It's highest population was 318 in 1920, and the current population is estimated at 164 (2017).

Holland's first bank was the (private) Bank of Holland, established in 1899 by Harris & Jacobs.

Holland had one National Bank during the Bank Note Era, and that bank did not issue National Bank Notes.

Bank History

First National Bank Savings Book 1921-1922

Chartered May 21, 1920
This bank did not issue National Bank Notes
Conservatorship Apr 20, 1933
Receivership Dec 8, 1933

The First National Bank of Holland was organized by a group of citizens in 1920 with a capital of $25,000. A new bank was built on the north side of Main Street (pictured above), and opened for business that same year. Ambrose Holland was the first Cashier, and Paul Reikow the first President. The First National Bank was robbed twice, once on Sept 11, 1928 of $1,511, and again on April 27, 1933 of an unknown amount. During the 1933 robbery, Mr. Reikow was shot in the right knee while exchanging gunfire with the robber. The bank was closed by FDR on March 6, 1933 for the National Bank Holiday, and was never licensed to re-open. It went into Conservatorship on April 20, 1933, and was officially closed by the Receiver on December 8, 1933.

Official Bank Title(s)

1: First National Bank, Holland, MN

Bank Note Types Issued

No National Bank Notes were issued by this bank.

Bank Presidents and Cashiers

First National Bank Presidents and Cashiers during the National Bank Note Era (1920 - 1933):

Presidents:

Paul Reikow, 1920-1933

Cashiers:

Ambrose Holland, 1920-1922
E. Nissen, 1922-1922
G. A. Jansen, 1923-1924
E. W. Boehmke, 1925-1925
Henry Nissen, 1926-1933

Wiki Links

References

Holland, MN, Wikipedia, https://en.wikipedia.org/wiki/Holland,_Minnesota
Holland, Minnesota Centennial Book 1888-1988, p87.
"Bank Robberies of the Past", Pipestone County Star, November 17, 2013, (Insert).
Arthur P. Rose, An Illustrated History of the Counties of Rock and Pipestone Minnesota (Luverne, MN: Northern History Publishing Co.,1911), 344-346.
Don C. Kelly, National Bank Notes, A Guide with Prices. 6th Edition (Oxford, OH: The Paper Money Institute, 2008).
Banks & Bankers Historical Database (1782-1935), https://bbdata.banknotehistory.com