History

Established in 1902, Ed Staede laid the cornerstone for the inaugural bank in Walker, Minnesota, importing $4,000 worth of brick and stone. Originally christened Walker State Bank, it later underwent a name change to The First National Bank of Walker. Ed Staede assumed the role of the bank’s first President, alongside an esteemed inaugural Board of Directors comprising Harry Brummond, Charles Kinkle, F.B. Davis, C.E. Griffith, and M.J. Quam.

In August of 1928, The First National Bank of Walker expanded its portfolio by acquiring Farmers State Bank of Walker. Subsequently, in 1936, Ed Staede retired from his presidential duties, succeeded by C.J. Elsenpeter, who held the position until 1979, later transitioning to Chairman of the Board until 1988.

A significant milestone was reached in 1957 with the construction of a new bank building, which still serves as the flagship location in Walker. The bank’s geographical footprint expanded with the inclusion of Longville in 1978 and Akeley in 1979. John Elsenpeter, joining the bank in 1970, ascended to the presidency in 1988.

In 1990, The First National Bank of Walker broadened its reach further by acquiring Backus State Bank, with branches in Backus and Hackensack. Michael Elsenpeter assumed the presidency in 2004.

In 1997, Walker Banco, the holding company of The First National Bank of Walker, acquired Lakes State Bank of Pequot Lakes and Crosslake. Lakes State Bank operated autonomously, with David Elsenpeter as President and JP Elsenpeter as Executive Vice President.

Expanding its presence, The First National Bank of Walker procured locations in Remer, Longville, and Jenkins from Woodland Bank in 2012, while Lakes State Bank expanded to Baxter in 2014.

In April of 2015, Walker Banco announced the merger of The First National Bank of Walker and Lakes State Bank, rebranding as First National Bank North. Michael Elsenpeter assumed the role of CEO, with David Elsenpeter as President and JP Elsenpeter and Paul Jaeger as Executive Vice Presidents.

In 2021, First National Bank North underwent officer title changes, appointing JP Elsenpeter as President and CEO, David Elsenpeter as CFO, and Michael Elsenpeter as Chairman of the Board.

The bank’s expansion continued with the inauguration of its 10th location in Nisswa, Minnesota, in 2023. Today, First National Bank North boasts branches in Akeley, Backus, Baxter, Crosslake, Hackensack, Longville, Nisswa, Pequot Lakes, Remer, and Walker, and has flourished from its modest beginnings of $4,000 in assets in 1902 to an impressive asset base exceeding $750,000,000.