First Minnesota Bank is an independent, community bank striving to provide our customers with the best products and services available. Our motto is “Tradition at work since 1881”.
First Minnesota Bank was originally chartered as First National Bank of Glencoe on October 10, 1881 under the leadership of Captains A.H. Reed and Matthew Thoeny, who were civil war friends. The Bank was organized by local investors to assist in development of the area. Many of the original investors’ family names are still recognized in the community today.
Soon after its inception, control and management of The First National Bank of Glencoe was assumed by the Thoeny family. Henry Thoeny built a solid reputation by assuring the Bank’s survival and retaining its sound financial status during the Great Depression. In 1956, he sold his interests to the Guy Bacon family, who owned and managed the Bank until May 1, 1981, when Lowell G. Wakefield assumed ownership. In 1995 the First National Bank of Glencoe merged with First Bank of Minnesota Hutchinson, acquired by Mr. Wakefield in 1982, to become First Minnesota Bank.