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| Additional information |
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| The First National Bank of Henning |
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Overview:
The First National Bank was organized on July 14, 1903, by a group of investors from Wadena, Minnesota, and associated with the Merchants National Bank in that city. Its primary incorporators were Isaac Hazlett, J.J. Meyer, and F.B. Coons. Its first President was Isaac Hazlett, and first cashier was H.H. Brutlag. The First National Bank's first building was constructed at 512 Douglas Avenue, the main street of Henning, in 1904. The building was expanded at the same site in 1948, 1965, 1984 and 2001. In 1977, the First National Bank established a branch in the city of Ottertail. In 1981, a building was constructed to house this as an extended facility of the Bank.
Bank Presidents: August 1, 1903 to June 1904, Mr. Coons; from June 1904 to January 1916, Mr. F.G. Barrows; from January 1916 to December 1932, Mr. Hazlett; from December 1932 to January 1948, R.R. Patterson; from January 1948 to May 1962, Dr. A.J. Lewis; from January 1963 to September 1994, Arthur M. Espeland; from September 1994 to the present time, James A. Espeland. Bank Cashiers: from July 1903 to June 1904, Mr. H.H. Brutlag; from June 1904 to January 1921, Mr. Reuben R. Patterson; from January 1921 to April 1933, Mr. L.A. Johnson; from April 1933 to January 1958, Mr. G.C. Clement; from January 1958 to January 1963, Arthur M. Espeland; from January 1963 to 1971, Miss Mabel C. Espeland; from 1971 to 1980, Duane Fraki; from 1980 to the present time, Robert Reinbold.
The First National Bank was originally capitalized at $27,000. In November, 1903, its assets were $37,465. Its capital steadily increased through the 1920's, suffering a setback in the difficult times of the early 1930's, but had assets of over $1,000,000 in November of 1943. The First National Bank's assets had tripled to $3,110,000 by November, 1963. In 1984, its assets exceeded $27,000,000. In November of 2002, its assets were $61,540,000.
Mr. R.R. Patterson, who from 1901 had been Cashier of the State Bank of Henning, formerly the Milne Bank, accepted the position as Cashier of the newly formed First National Bank in June, 1904. Mr. Patterson continued his association with the Bank in various capacities over the next 46 years until his death in 1950. Mr. Patterson was promoted to President in 1932. Mr. Patterson continued as President until January 1948.
Dr. A.J. Lewis became a Director on July 30, 1925, and was elected as President in 1948. He served as President to the Bank until his death in 1962.
Mr. Guy C. Clement, who had resided in Clitherall, Minnesota, and was the Executive of the Security State Bank in that village until its closing, was appointed Cashier in 1933 and continued in that capacity as Executive Vice-President in 1948, until his retirement in 1962.
Mabel Espeland became employed by the First National Bank in 1931, first as a teller, and then as Assistant Cashier. In January of 1963, she was appointed Casher; and in 1971 she was appointed as a Vice President and continued in that capacity until her death in 2006.
Mr. Arthur M. Espeland was a native of Henning and a graduate of the University of Minnesota, and served in World War II. After his discharge he was employed as National Sales Director of a paint company. He was invited to join the Bank by the Board of Directors in 1957. He was appointed Cashier upon his employment at the Bank in January, 1958. Mr. Arthur M. Espeland was elected President in 1963, continuing in that position until 1994 when he was elected Chairman of the Board. He served until his death in 1999.
The Administration of the bank has been amply supported over its time with dedicated persons as members of the Board of Directors. In addition to the Officers listed above, other Board Members who have served include; S.L. Frazier, F.F. Latta, W. Lancaster, W.E. Parker, C.W. Barker, O.G. Baglo, Ann Patterson, Fillmore Trites, O.B. Allenson, Dr. Charles Lewis.
From 1932 forward, all Officers and Board Members of the Bank have had a direct connection to the Henning area. During its entire century of existence, the First National Bank in Henning has been an independent full-service financial institution pledged to serve the Henning, Ottertail, Clitherall, and Vining area. From its inception, the Bank and its Officers and Board Members have contributed both time and resources for the welfare of community and educational committees and boards.
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