John Schritzmeier Tolversen (Fulda, MN)
John Schritzmeier Tolversen (September 19, 1878 – July 21, 1970)
Biography
John S. Tolversen (September 19, 1878 - July 21, 1970) was born and raised on a farm in Outagamie County, WI, northwest of Neenah, and decided early in life to pursue a career in banking. He attended the Gem City Business College in Quincy, IL, and in 1900 took a position as stenographer with the First National Bank in Rock Rapids, IA. In late 1901 he moved to Worthington, MN, to become stenographer and bookkeeper with the new Citizens National Bank there. In July, 1904, he resigned his position at the Citizens National Bank and moved back to Wisconsin to assist in the management of his father’s farm, where he stayed for only about a year before resuming his banking career in Fulda, MN, as cashier of the Farmers State Bank. When that bank merged with the First National Bank of Fulda in early 1909, he became vice-president of the merged bank. A few months later he became president of the bank following the death of his predecessor, Julius Smith, and held that position until the bank was placed in receivership on October 7, 1926. In 1914 he also became president of the Avoca State Bank in the nearby town of Avoca, and remained president of that bank after its conversion to the First National Bank of Avoca in 1918. He resigned the presidency of the Avoca bank in 1926 following the collapse of the bank in Fulda. During his banking career in Fulda he was a member of the executive council of the Minnesota Bankers Association and served the American Bankers Association as vice president for Minnesota. After 1926, he continued to live in Fulda for several years as correspondent and trustee for the Equitable Reserve Association, a fraternal life insurance company based in Neenah, WI. In 1932 he moved to the home office in Neenah, where he became treasurer in 1935, vice president in 1950, and president from 1954 until his retirement in 1960. He was elected to the board of directors of the National Manufacturers Bank of Neenah in 1955.
In 1902 John Tolversen married Grace Marie Howell (1875 - 1964), the daughter of his former landlady in Rock Rapids. The couple had one son, Leon (1903 - 1959), who was following in his father's footsteps at Equitable Reserve at the time of his death. John Tolversen outlived his wife, his son, and a grandson; he was survived by one granddaughter.
Bank Officer Summary
During his banking career, John S. Tolversen was involved with the following bank(s):
- Farmers State Bank, Fulda, MN: Cashier 1906-1909
- First National Bank, Fulda, MN (Charter 6054): President 1909-1926
- Avoca State Bank, Avoca, MN: President 1914-1918
- First National Bank, Avoca, MN (Charter 11224): President 1919-1926
References
- Ancestry.com
- Banks & Bankers Historical Database (1782-1935), https://bbdata.banknotehistory.com