First National Bank, Princeton, MN (Charter 7708)

ca. 1908 Postcard of the First National Bank

First National Bank, Princeton, MN (Chartered 1905 - Liquidated 1934)

Town History

Princeton is located primarily in Mille Lacs County in east-central Minnesota. A small portion of the town extends south into Sherburne County. Princeton was platted in 1855-1856.

During the National Bank Note Era, the population of Princeton was 816 in 1890, growing to 1636 in 1930. Its current (and highest) population is estimated at 4,714 (2018).

Princeton had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.

For more information on the town of Princeton, see their Wikipedia page.

Bank History

Photo of the old First National Bank building taken in 2007.

Organized Apr 4, 1905
Chartered Apr 25, 1905
Conversion of the Citizens State Bank of Princeton
Opened for business Apr 27, 1905
Liquidated Nov 8, 1934

Bank Note History Wiki links:

Official Bank Title(s)

1: The First National Bank of Princeton, MN

Bank Note Types Issued

$20 1902DB issued by the First National Bank of Princeton with pen signatures of Jno. F. Petterson, Cashier and S. S. Petterson, President

$20 1929T1 issued by the First National Bank of Princeton with printed signatures of Jno. F. Petterson, Cashier and S. S. Petterson, President

A total of $384,850 in National Bank Notes was issued by this bank between 1905 and 1934. This consisted of a total of 30,764 notes (26,012 large size and 4,752 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 - 1300
1902 Date Back	3x10-20	1 - 2000
1902 Plain Back	3x10-20	2001 - 5203
1929 Type 1	6x10	1 - 589
1929 Type 1	6x20	1 - 203

Bank Presidents and Cashiers

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

Presidents:

Swan S. Petterson, 1905-1933

Cashiers:

John F. Petterson, 1905-1931
A. F. Meyer, 1932-1933

Other Bank Note Signers

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

References

Princeton, MN, Wikipedia, https://en.wikipedia.org/wiki/Princeton,_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://bbdata.banknotehistory.com