The First National Bank
Service to the Community Since 1916
On August 18, 1916, The First National Bank of Barron was authorized by the Office of the Comptroller of the Currency to commence the business of banking.
Business was good for the new bank. The staff included a cashier, assistant cashier, and bookkeeper. Today's staff consists of 20 employees.
Stock Market Crashes
The stock market crash of 1929 had little immediate effect on The First National Bank because it was a community bank. Then, and today, the bank invests its money in loans and rated securities, rather than speculation in the stock market.
The First National Bank was one of a small percentage of banks allowed to open at 100% capacity after President Roosevelt's "Bank Holiday" in March 1933. However, some depositors were still nervous about their money. If depositors came in and wanted to withdraw their money, Cashier Otis Skogstad would take them into a private room and discuss the Statement of Condition with them. Depositors usually left the bank without their money and were reassured of its safety. As a result of teamwork and sound judgment, The First National Bank survived the Great Depression.
Automation and Other Changes
Changes at The First National Bank, are the result of new technology and regulations. Computers were introduced to the bank in the mid 70's. "Waves of Change" are yet to come with more technology and efficiency.
"Friendly Old-Time Banking with a Modern Approach"
Our remodeling project in 1982, gives the historic look to the bank which fits with our slogan, "Friendly Old-Time Banking with a Modern Approach". In the spring of 2004, we opened our second office in Rice Lake, Wisconsin. This expansion allows added convenience and continues our commitment to excellent customer service for our customers.
The success of The First National Bank can be traced to its early days.
We have a tradition of resourceful management, along with teamwork that
has kept us strong and successful through the Great Depression, five
wars, and the farm crisis of the 80's. This same leadership will
allow us to grow and be successful throughout the 21st Century and beyond.
