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Bank Info for NB Charter 6840 (1903 - 1924)

Official Bank Title(s) (Huntoon)
# Bank Title (Change Date) Bank Town
1 The First National Bank of
Balaton, MN
Bank Officer Pairs (OCC/Pollock)
Years Cashier President
1903-1906 A. J. Rush George Amos Tate
1907-1911 N. H. Olson George Amos Tate
1912-1912 S. O. Raliffson James Hall
1913-1914 Frank Willard "Bob" Ruliffson James Hall
1915-1916 Frank Willard "Bob" Ruliffson Herbert Gerhard Heneman
1917-1917 Frank Willard "Bob" Ruliffson M. J. Aurandt
1918-1918 H. M. Heneman M. J. Aurandt
1919-1920 Frank Willard "Bob" Ruliffson M. J. Aurandt
1921-1922 Frank Willard "Bob" Ruliffson Herbert Gerhard Heneman
1923-1924 Christian William Arnason Herbert Gerhard Heneman
Other Known Bank Note Signers
  • No other known bank note signers for this bank
Bank Note History Links
Bank Note Types Issued (VanBelkum)
Series/Type Sheet/Denoms Serial#s Sheet Comments
1902 Red Seal 3x10-20 1 - 626
1902 Date Back 3x10-20 1 - 1610
1902 Plain Back 3x10-20 1611 - 3142
Smithsonian NBN Proof Links (Huntoon Index)
Bank History Summary (VanBelkum/Huntoon/Pollock)
  • Organized Apr 30, 1903
  • Chartered Jun 17, 1903
  • Succeeded Citizens State Bank
  • Liquidated Jun 28, 1924
  • Absorbed by First State Bank of Balaton
  • Receivership Feb 29, 1928
  • Reason for failure: Deficiency in assets sold
  • Notation on Organization Report:
  • Succeeds Citizens State Bank
  • Bankers Magazine Succession Info (1863-1909):
  • Succeeded Citizens State Bank
Bank Balance Summaries (Huntoon/Pollock)
Total Resources Summary
Low Bal (1903) $61,293
High Bal (1920) $490,313
Circulation Summary
Low Bal (1903) $6,250
High Bal (1909) $25,000
Total Out (1923) $25,000
# Large Notes 15,072
# Small Notes 0
# Total Notes 15,072
$ Large Size $188,400
$ Small Size $0
$ Total Issued $188,400
OCC Annual Bank Balances (Pollock)
Report Date Total Resources Circulation
Sep-09-1903 $61,293.02 $6,250.00
Sep-06-1904 $68,550.09 $6,250.00
Aug-25-1905 $77,048.00 $6,250.00
Sep-04-1906 $87,249.00 $6,250.00
Aug-22-1907 $124,632.00 $6,250.00
Sep-23-1908 $137,773.00 $15,000.00
Sep-01-1909 $176,848.00 $25,000.00
Sep-01-1910 $200,457.00 $25,000.00
Sep-01-1911 $195,872.00 $25,000.00
Sep-04-1912 $164,800.00 $25,000.00
Aug-09-1913 $169,742.00 $25,000.00
Sep-12-1914 $168,106.00 $25,000.00
Sep-02-1915 $191,302.00 $25,000.00
Sep-12-1916 $269,852.00 $24,600.00
Sep-11-1917 $328,624.00 $25,000.00
Aug-31-1918 $373,975.00 $25,000.00
Sep-12-1919 $475,351.00 $25,000.00
Sep-12-1920 $490,313.00 $24,700.00
Sep-06-1921 $419,339.00 $25,000.00
Sep-15-1922 $484,271.00 $25,000.00
Sep-14-1923 $475,051.00 $25,000.00

 

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