First National Bank, Minnesota Lake, MN (Charter 6204)

ca. 1910 postcard of First National Bank

First National Bank, Minnesota Lake, MN (Chartered 1902 - Receivership 1924)

Town History

2007 photo of the bank building

Minnesota Lake is a city in Blue Earth and Faribault counties in the State of Minnesota. The bulk of the city is in Faribault County; only a small part extends into Blue Earth County.

Minnesota Lake was platted in 1866 and named after the nearby Minnesota Lake. The historic home of Peter Kremer and Millie Zabel, early community leaders, operates as a library and museum.

In 1880 the population was 208, climbing to 435 in 1930, 697 was the highest in 1960, and currently (2010) 687 people reside here.

Minnesota Lake hosted 2 National Banks during the Bank Note Era, and both issued National Bank Notes.

Bank History

Organized Apr 5, 1902
Chartered Apr 12, 1902
Succeeded Security State Bank
Opened for business Apr 18, 1902
Receivership Aug 6, 1924

Official Bank Title(s)

1: The First National Bank of Minnesota Lake, MN

Bank Note Types Issued

1902 Plain Back $5 bank note with pen signature of F.A. Ludwig, Cashier, and stamped signature of M.S. Fisch, President

1902 Plain Back (dated 1922) $5 bank note with pen signature of E. W. Tolzmann, Assistant Cashier, Courtesy of Lyn Knight Auctions, http://www.lynknight.com

A total of $231,500 in National Bank Notes was issued by this bank between 1902 and 1924. This consisted of a total of 27,708 notes (27,708 large size and 0 small size notes).

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

Series/Type	Sheet/Denoms	Serial#s
1902 Red Seal	4x5	1 - 1150
1902 Red Seal	3x10-20	1 - 728
1902 Red Seal	50-100	1 - 44
1902 Date Back	4x5	1 - 1400
1902 Date Back	3x10-20	1 - 930
1902 Date Back	50-100	1 - 44
1902 Plain Back	4x5 (1902)	1401 - 2600
1902 Plain Back	3x10-20 (1902)	931 - 1650
1902 Plain Back	4x5 (1922)	1 - 445
1902 Plain Back	3x10-20 (1922)	1 - 310

Bank Presidents and Cashiers

First National Bank Presidents and Cashiers during the National Bank Note Era (1902 - 1924):

Presidents:

Cashiers:

Other Known Bank Note Signers

E. W. Tolzmann (Asst Cashier 1921...1924)

Bank Note History Links

Sources

Minnesota Lake, MN, Wikipedia, https://en.wikipedia.org/wiki/Minnesota_Lake,_Minnesota
Don C. Kelly, National Bank Notes, A Guide with Prices. 6th Edition (Oxford, OH: The Paper Money Institute, 2008).
Dean Oakes and John Hickman, Standard Catalog of National Bank Notes. 2nd Edition (Iola, WI: Krause Publications, 1990).
Banks & Bankers Historical Database (1782-1935), https://spmc.org/bank-note-history-project