National Bank of Commerce in Mankato, MN (Charter 14220)

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ca. 1925 photo of the National Bank of Commerce, located in the SaulPaugh Hotel block.

National Bank of Commerce in Mankato, MN (Chartered 1934 - Open past 1935)

Town History

Mankato is located primarily in Blue Earth county in south-central Minnesota. Small parts of the city are also located in Nicollet and Le Sueur counties. It is along a large bend of the Minnesota River at its confluence with the Blue Earth River.

The area was long settled by various cultures of indigenous peoples. By the mid-19th century, the Dakota Sioux were the primary indigenous group living in the area. The Mankato area was not settled by European Americans until Parsons King Johnson in February 1852. New residents organized the city of Mankato on May 11, 1858. One popular story says that the city was supposed to have been named Mahkato (Dakota for Blue Earth river), but a typographical error by a clerk established the name as Mankato. Another says the town was named after a Dakota chief, whose village stood on or near the site of the present town.

On December 26, 1862, the U.S. Army carried out the largest mass execution in U.S. history at Mankato following the Dakota War of 1862. Thirty-eight Dakota Native Americans were hanged for their parts in the uprising.

During the National Bank Note Era, the population of Mankato was 3,482 in 1870, rising steadily to 14,039 in 1930. Its highest population is also its current population, estimated at 42,931 (2019), making it the fifth largest city in Minnesota outside the Minneapolis–Saint Paul metropolitan area.

Mankato had six National Banks chartered during the Bank Note Era, and all of those banks issued National Bank Notes. Three of those six National Banks survived past the end of the bank note issuing era in 1935.

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


Bank Note History Wiki links:

Bank History

  • Organized May 1, 1934
  • Chartered Jul 11, 1934
  • Succeeded 6519 (National Bank of Commerce of Mankato, MN)
  • Bank was Open past 1935

Official Bank Title(s)

1: National Bank of Commerce in Mankato, MN

Bank Note Types Issued

Series 1929 Type 2 $10 bank note with printed signatures of F.A. Buscher, Cashier and Otto Lamm, President. Courtesy of Lyn Knight Currency Auctions, www.lynknight.com.

A total of $31,610 in National Bank Notes was issued by this bank between 1934 and 1935. This consisted of a total of 3,845 notes (No large size and 3,845 small size notes).

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

Series/Type Sheet/Denoms Serial#s
1929 Type 2 5 1 - 2138
1929 Type 2 10 1 - 1322
1929 Type 2 20 1 - 385

Bank Presidents and Cashiers

First National Bank Presidents and Cashiers during the National Bank Note Era (1934 - 1936):

Presidents:

  • Otto Lamm, 1934-1935

Cashiers:

  • F. A. Buscher, 1934-1935

Other Bank Note Signers

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

References

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