Fnbpipe.com
Title
First National Bank in Pipestone, MN - Welcomes You!
Description
The First National Bank in Pipestone, with $125 million in assets, is a commercial bank chartered in Pipestone, Minnesota. Measured in terms of a continued, unchanged charter, First National is the oldest financial institution in Pipestone County.
The National Charter was issued on February 25, 1889 and was the first national bank charter granted in Pipestone County. The history can be traced back to July 21, 1885, when founders, W.G. Stoner and Charles Mylius, opened a private bank in Pipestone, whereas Charles Mylius served as the first president. Mylius conceived the idea of combining a new bank with a new hotel and the result was the building of the present Calumet Hotel. The Bank occupied the northeast corner of the hotel. Newspaper accounts of the period say the organizers were first planning a state charter for the Bank, but the newspaper reported that the organizers had a "larger enterprise in the view." Mylius and several stockholders, instead arranged for a national charter and the Bank has been known as First National Bank in Pipestone since.
First National has successfully withstood many economic upheavals including the panics of 1893 and 1907, inflation and deflation following World War I, The Great Depression, and the hard economic times of the mid 1980's. The bank has continued and grown, crediting much of its success to the following of many loyal customers.
Contact
- First Bank and Trust
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- Brookings SD
- US 57006
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