First Bank of Cooperstown

In 1890 First Bank Cooperstown was chartered as a national bank under the name, The First National Bank.  The first recorded President was H.P. Hammer.

On August 31, 1929, First Bank Stock Investment Company purchased the assets of the bank.  Total deposits at that time were $267,000.  First Bank Stock Investment Company then applied for a new national charter and changed the name from The First National Bank to The First National Bank in Cooperstown.  H.P. Hammer retired from the bank at this time and L.A. Almklov became President with H.A. Brown, Vice-President, and R.A. Hammer, Cashier of the newly established bank.

On March 11, 1930, The First National Bank assumed the deposit liabilities of the Farmers & Merchants Bank of Cooperstown as they had discontinued business.

The bank then applied for a state bank charter, which was approved on September 1, 1938.  The bank name was changed from The First National Bank in Cooperstown to the First State Bank of Cooperstown.

In January of 1953, new management was elected to run the bank.  George H. Johnston became the new President, H.A. Brown, Vice-President, and Carl 0.  Johnson, Cashier.

Upon the resignation of George Johnston in July of 1954, Roy Christensen was elected President and Carl 0.  Johnson, Vice-President and Cashier.

In June of 1964, Roy Christensen resigned and the board elected L.E. Herzog, President and A.L. Mathisen, Jr., Vice-President and Cashier.  Under this management a new bank building was constructed at the old bank site on Burrell Avenue.

L.E. Herzog resigned in September of 1972, to take a new position with a bank in Litchville, Minnesota, and the Board elected Howard E. Brash, President.  Brash has retained that position and A.L. Mathisen, Jr., continues as Vice-President and Cashier.  The present assets of the bank are $17,700,000.

Source: Cooperstown, North Dakota 1882-1982 Centennial Page 214

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