By Jolene Farley
Those who appreciate history find the First National Bank and Trust building on Main Street in Beaver Creek an interesting step back in time. The structure has changed little since it was built around 1917.
"I love it here," said part-time employee Jodi VandenBosch. "I like the history. The people are so friendly."
The interior and exterior of the building still closely resemble the description in the next seven paragraphs from the history book, Roaring Beaver, a Story of a Prairie Village, by Carl Kahler.
"Around 1917, bank directors made plans to enlarge their old 21 feet by 41 feet building. The new building would not be ordinary. It would be architecturally unique in the Midwest.
The old building was almost completely torn down except for the vault and the west wall that was attached to the wall of Dunbar's store.
The basement was enlarged and a new building was constructed measuring 36 feet by 41 feet. The new building was made of brick, stone and concrete.
Two pillars and pilasters in classic Greek style are topped by four Kasotas. Stone capitals that support a massive frieze are carved with THE FIRST NATIONAL BANK.
The floor of the bank is Tennessee marble and the interior of the bank is Rosetto marble. Interior trim is quarter-sawed oak.
The materials in the bank are, and were the very best obtainable.
The bank building is listed on the National Registry of Historic Places."
The bank has a long history of ownership changes but is currently owned by First National Bank, Brookings, S.D. The banks in Luverne, Beaver Creek and Magnolia were purchased in 1999. The Magnolia branch closed in 2001.
"The Beaver Creek location has always been here," said First National Bank President Ryan DeBates.
The bank was robbed only once in its history, according to employee Marlys Rauk. Although currently working in the Luverne office, Rauk began her banking career in 1974 at the Beaver Creek branch.
In January of 1980, four employees (including Rauk) and one customer were locked in the bank vault by robbers. The bankÕs president hid under his desk and set the hostages free immediately after the robbers left. The Federal Bureau of Investigation later caught the thieves.
Current bank hours at the depository in Beaver Creek are 8:30 a.m. to noon Monday through Friday and 8:30 to 11 a.m. on Saturday.
HISTORICAL BANKING NOTE:
On March 6, 1933, two days after Roosevelt's inauguration, he declared a "national bank holiday" and closed every bank in the United States.
All banks were examined and given a passing or a failing grade. They all remained closed for nine days and only solvent banks re-opened.
There were few transactions allowed in the interim. Customers could cash one check for $10 at the bank only if they needed it for food or medicine. They had to state what they were going to use the money for. They could cash a payroll check if it was marked "payroll check." New accounts could be opened with cash or a government check, but not with a check drawn on another bank account.
All Beaver Creek banks re-opened. After the re-opening of the solvent banks, the safety of accounts was guaranteed by the Federal Deposit Insurance Company, a federal agency. Under the new law, the federal government guaranteed all accounts to the limit of $90,000.