Banking in the Great Northern Territory: An Illustrated History - Hardcover

George Richard Slade

9781890434663: Banking in the Great Northern Territory: An Illustrated History

Hardcover

ISBN 10: 1890434663 ISBN 13: 9781890434663

Publisher: Afton Historical Society Pr, 2005

Banking in Minnesota was born on the frontier and provided the necessary financial support for the new communities of the Upper Midwest—the land that Jim Hill identified as the fertile region that would serve and be served by his Great Northern Railroad.

As the small communities grew into cities, as primitive agriculture was supplemented by grain milling and a burgeoning industrial base, the banks of the territory also grew, struggled, and survived to eventually provide the complex and sophisticated needs of Fortune 500 companies.

Over a 75-year history, the Northwest Bancorporation and the First Bank Stock Corporation accumulated small regional financial empires, managed their survival through the Depression, and positioned them to meet the growing needs of Upper Midwest business. The two holding companies were competitors indeed—the Federal Reserve System and anti-trust legislation saw to that—but they were managed by dedicated men who were more similar than different. The twentieth century was not an easy time for banking, as these dedicated men learned new skills in technology and marketing and watched their companies outgrow their regional roots to become a part of the new global banking system.

Narrated by a former banker, this is the story of men and transition and the life of two regional bank holding companies.

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About the Author:

The author is a legitimate retiree of both Northwest Bancorporation (Wells Fargo) and First Bank System (US Bancorp) and worked in both Minneapolis and Saint Paul with these corporations during much of the period covered by the book. He was born in Duluth, raised in Minnesota, graduated from Yale University and attended Law School at Minnesota. His family background includes numbers of bankers, including his maternal grandfather who had the dubious fortune of being employed by two "failed" Ohio banks.

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