 |
 In
1901 Ed I.P. Staede laid the foundation for The First National
Bank of Walker when he imported $4,000 of stone and brick and
built the first bank in Walker, Minnesota. The bank was chartered
as a state bank and was opened in 1902 as Walker State Bank.
The bank was capitalized with $12,000 and Mr. Staede served
as the bank’s first President. Harry Brummond served as
the bank’s Vice-President, and Fred Knellan was appointed
Cashier.
In November of 1906, the bank received approval for a National
Bank Charter, then becoming the First National Bank of Walker.
The bank capitalized at $25,000 and had assets of $60,000. The
original Board of Directors were Ed I.P. Staede, F.B. Davis,
Harry Brummond, Charles Kinkele, C.E. Griffith, and M.J. Quam.
In August of 1928 the First National Bank of Walker acquired
the Farmer’s State Bank of Walker, which opened in 1916.
The bank was located on the northwest corner of Minnesota Avenue
and 5th Street. The combined assets of the two banks were $421,000
at the time.
Mr. Staede served as First National’s President and Chairman
of the Board until 1936. At that time he sold his ownership
in the bank to C.J. Elsenpeter and Otto F. Ringle, M.D. Mr.
Staede died in October of 1946.
 C.J.
Elsenpeter joined the bank in 1924 at the age of 24. He was
born and raised in Maple Lake, Minnesota and worked for Loretto
State Bank before coming to Walker. He was appointed Cashier
of the bank in 1930 and President in 1936. Otto Ringle, M.D.
moved to Walker in 1931 and served the area’s medical needs
until he retired in 1972. He served as Board Chairman until
1975. During C.J.’s time as President, First National experienced
consistent growth and provided complete financial services to
the Walker area. The bank moved to a new facility in 1957, which
is still the present location of the bank.
C.G. Swenson joined the bank in 1936 as a Teller and Bookkeeper.
He was appointed President in 1976. At that time, C.J. Elsenpeter
became the Chairman of the Board. Mr. Swenson served as President
of the bank until 1988 when he retired. He was succeeded by
John C. Elsenpeter who joined the bank in 1967. John Elsenpeter
stepped down as president in 2004, and was succedded by Michael
J. Elsenpeter.
The bank expanded its service area to the Longville residents
in 1978, and Akeley residents in 1979. In December of 1990,
First National Bank purchased The Backus State Bank, located
in Backus and Hackensack, in order to accommodate the people
of those areas.
 The
First National Bank has grown from assets of twenty thousand
dollars after its first year of operation to assets totaling
over two hundred million dollars.
Thank you for being with us throughout the years! We look forward
to serving you for the many years to come.
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