A History of The First National Bank of Fairfax, MN

On March 26, 1910, the following persons signed articles of incorporation and applied to the Comptroller of Currency for a charter to organize a national bank at Fairfax:  E.F. Sell, J.I. Carson, H.S. Comer, August Paulson, J.M. Hinderman, A.E. Fenske, Herman Schmechel, Albert O. Mundahl, August F. Rieke, Albert Briese, Embrick Hanson, August Sell, H.L. Hinderman, W.A. Fiss, A.M. Crandall and John Durbahn.  On June 6, 1910, the Comptroller of Currency of the United States issued a charter, No. 9771, authorizing the First National Bank, of Fairfax, MN, to commence business with a capital of $25,000.00 and paid-in surplus of $5,000.00.  The first board of directors consisted of twelve members, namely:  H.S. Comer, E.F. Sell, W.A. Fiss, A.M. Crandall, J.I. Carson, J.M. Hinderman, Herman Schmechel, A.E. Fenske, August Paulson, August Sell, Albert G. Briese and John Durbahn, who elected the following officers:  E.F. Sell, president; H.S. Comer, vice-president; and W.A. Fiss, cashier.

A new modern two-story building was erected during the summer of 1910.  The building is of brick with a granite front, the interior is finished with beamed ceiling and all interior finish is of quarter sawed oak. The fixtures are of Italian marble.  The cost of the building was $12,000.00 and of the fixtures $3,000.00.  The bank opened for actual business on October 1,1910.  The bank continued under the same board of directors and officers until January 1, 1914, when H.S. Comer and August Paulson moved away and resigned.  Otto W. Kiecker and August F. Rieke were elected to fill the vacancies.  In January 1915, after the death of E.F. Sell, another change was made and Mrs. E.F. Sell was elected to the board of directors and was also elected president of the bank.

The First National Bank enjoyed a rapid growth from the beginning, and was able to pay a substantial dividend each year from the start.  The bank had 36 stock-holders, all but a few of which lived right in Fairfax and the adjoining community.  It had not been the policy of the bank to pile up any enormous profits for the stock-holders, but to conduct a conservative business which had for its goal the absolute safety of the depositors' money.  The healthy rapid growth of the bank was an evidence of the confidence the community had it this latest banking institution.

* exerpts from The History of Renville County, Vol. II, published in 1916

Robert Dickson has joined the First National Bank of Fairfax.  Mr. Dickson, who is a native of Chinook, Montana, comes to Fairfax from Frazee, Minnesota where he was employed at the Peoples State Bank.  Mr. Dickson brings to the First National Bank nine years of experience in various phases of banking.

Robert graduated from the engineering school at Stanford University, Palo Alto, California and subsequently served three years with the United States Air Force in Germany.  Presently he is a ready reservist assigned to the 343rd Combat Support Squadron at Duluth.

Mr. Dickson is married and his wife, Nancy, is a native of Florida.  She attended Boston and Columbia Universities where she studied Christian education and guidance.  The couple are happy to make Fairfax their new home and feel this area is an ideal place to raise a family. 

* from the Fairfax Standard, Thursday,  January 21, 1971