National Bank/First NB in Wadena, MN (Charter 12507)

Postcard of the First National Bank in Wadena, Minnesota, ca1935. The bank is located on the corner of Jefferson Street and Bryant Avenue.

National Bank/First NB in Wadena, MN (Chartered 1924 - Closed (Merger) 2017)

Town History

The old First National Bank ca2023. Courtesy of Google Maps

Wadena (/wəˈdiːnə/ wə-DEEN-ə) is a city in Otter Tail and Wadena counties in the state of Minnesota. Located at the crossroads of Highway 10 and Highway 71, it is about 160 miles northwest of the Minneapolis – Saint Paul metro area. It is the county seat of Wadena County. The population was 4,325 at the 2020 census. In 1920, the population was 2,186, growing to 2,916 by 1940.

The first permanent settlement at Wadena was made in 1871. The city is named after Chief Wadena, an Ojibwe Indian chief of the late 19th century in northwestern Minnesota. A post office has been in operation at Wadena since 1873. Wadena was incorporated in 1881.

Wadena had three National Banks chartered during the Bank Note Era, and all three of those banks issued National Bank Notes.

Bank History

• Organized Mar 3, 1924
• Chartered Mar 8, 1924
• 1: Succeeded 4821 (First National Bank of Wadena, MN)
• 1: Assumed its circulation
• Bank was Open past 1935
• For Bank History after 1935 see FDIC Bank History website
• Merged into Wadena State Bank in Wadena, MN May 13, 2017

On Friday, June 15, 1973, Mark Ehlen who worked his way up from janitor to president of the First National Bank in Wadena died at the age of 75. Ehlen started with the bank in 1916 and became president in 1967, holding the post until his death.

In January 2017, the Wadena State Bank, 304 First Street, SE, Wadena, published its intent to apply to the Federal Reserve Board for permission to merge with the First National Bank in Wadena, 25 Bryant Avenue, SW, Wadena, Minnesota.

Official Bank Titles

1: The National Bank of Wadena, MN

2: The First National Bank in Wadena, MN (1/8/1925)

Bank Note Types Issued

1902 Plain Back $10 bank note with stamped signatures of W.E. Parker, Cashier and Asher Murray, President.

1929 Type 1 $20 bank note with printed signatures of H.E. Parker, Cashier and W.H. Hipple, President. The Government Printing Office (GPO) prepared the overprinting plate used to produce this note. Courtesy of Heritage Auctions, www.ha.com

1929 Type 1 $20 bank note with printed signatures of H.E. Parker, Cashier and T.C. Davis, President. Barnhart Brothers & Spindler (BBS) prepared the overprinting plate used to produce this note. Courtesy of Heritage Auctions, www.ha.com

A total of $202,520 in National Bank Notes was issued by this bank between 1924 and 1935. This consisted of a total of 16,347 notes (8,120 large size and 8,227 small size notes).

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

Series/Type	Sheet/Denoms	Serial#s	Sheet Comments
1: 1902 Plain Back	3x10-20	1 - 1000
2: 1902 Plain Back	3x10-20	1 - 1030
2: 1929 Type 1	6x10	1 - 908
2: 1929 Type 1	6x20	1 - 278
2: 1929 Type 2	10	1 - 904
2: 1929 Type 2	20	1 - 207

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1924 - 1935):

Presidents:

• Asher Murray, 1924-1927
• W. H. Hipple, 1928-1930
• Dr. Thayer Clinton Davis, 1931-1935

Cashiers:

• Warren Elmer Parker Sr., 1924-1927
• Harold E. Parker, 1928-1935

Other Known Bank Note Signers

• No other known bank note signers for this bank

Bank Note History Links

• National Bank/First NB in Wadena, MN History (NB Lookup)
• Minnesota Bank Note History (BNH Wiki)

Sources

• Wadena, MN, on Wikipedia
• 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