hennepin county

Showing 2 posts tagged hennepin county

Commercial Banks, 69, Savings & Loan, 30, Mutual Banks, 1

This brochure map of the “Highways of Hennepin County” opens to reveal the half-century long struggle of the Farmers & Mechanics Savings Bank to reform Minnesota banking law to allow it to open a second location. The mutual bank, “run solely for the benefit of the depositors,” and opposed by independent commercial banks wary lest “profits per bank would be lessened,” seeks to rally the confused traveler to its cause through a series of questions put into the mouth of the presumably shocked and indignant reader, and answers by the bank, calling upon quotes from newspapers, professors and dignitaries, a timeline of its legal battle, demographic statistics, a table of comparisons to other states, and a sardonic bank-search photograph.


The F&MSB won a victory in this crusade in 1979, when the bank was allowed to open its first branch in Southdale, but it was absorbed by the Marquette National Bank in 1982 in a deal arranged by FDIC. Journalist Jim Fuller, writing in the February 28th 1982 Minneapolis Tribune, attributed the bank’s failure to “sinking in a sea of low-rate mortgages and high rate savings and borrowings. Its assets, mostly mortgages, were earning an average of 8.7 percent, but it was paying an average of 10.7 percent on the money it took in on savings and borrowings. And unlike savings and loan associations, it had been forbidden for many years to tap the important suburban markets though the establishment of branches.”


Dick Gray, a F&MSB trustee, in a March 1982 column in the Minnetonka Sun, reminisced about the 108 year history of this former “backbone of Minneapolis life. ‘You were loyal to two things: the Republican Party, and the F&M Savings Bank.’ When immigrants arrived either by train or river boat, they were met by representatives of F&M… [in] 1909, F&M led the country in school banking, and by 1910, one-half of the Minneapolis public school children banked weekly with F&M in their classrooms.”


Today the F&MSB’s most visible legacies are the two buildings it commissioned in downtown Minneapolis, both of which are now in the National Register of Historic Places. The first, 115 S. 4th St., completed in 1891, is now the Downtown Cabaret, a strip club. The second, 88 S. 6th St., finished in 1942, which features a bold Art Deco relief of the bank’s eponymous figures, currently houses the Westin Hotel and B.A.N.K., a restaurant which uses the former teller windows as a bar.


This map and other records of the F&MSB’s long history are available in HCL’s James K. Hosmer Special Collections.

stuffaboutminneapolis:

Suburban Buildings
The 24-story Northwestern Financial Center, located on Xerxes Av. So. and Hwy 494, will be the largest office facility in the surburban Twin Cities area. The office building complex will occupy 33 acres and will contain 400,000 square feet. Included in the plans are a revolving top-floor restaurant and a heliport. The Northwestern Financial Center is being developed, designed, engineered, and constructed by Rauenhorst Corporation. (photo scanned from the 1971 promotional book, “Minneapolis - City of Lakes”)
The building now known as Well Fargo Plaza was completed in 1974, and at the time was one of the tallest buildings in the Twin Cities. Looking at this got me wondering, what are the tallest buildings in the cities of suburban Minneapolis? You were wondering that too? Awesome, I did us both a favor and looked it up. (all links go to the building database website Emporis)
Plymouth - 505 Waterford Park
Robbinsdale - North Memorial Medical Center Addition
Brooklyn Center - Embassy Suites Minneapolis Brooklyn Center
Brooklyn Park - Northland Inn
New Hope - Saint Therese Residence
Golden Valley - Colonnade Building
St. Louis Park - Metropoint Tower
Edina - The Westin Edina Galleria & Residences
Richfield - The Tower at City Bella
Bloomington - 8500 Tower
Eden Prairie - Wooddale Church
Minnetonka - 601 Carlson Parkway & 701 Carlson Parkway
Andover - Andover YMCA Community Center
Chanhassen - Minnesota Landscape Arboretum Oswald Visitor Center
Hopkins - Hopkins Village Apartments
Maple Grove - Maple Grove Hospital
High-res

stuffaboutminneapolis:

Suburban Buildings

The 24-story Northwestern Financial Center, located on Xerxes Av. So. and Hwy 494, will be the largest office facility in the surburban Twin Cities area. The office building complex will occupy 33 acres and will contain 400,000 square feet. Included in the plans are a revolving top-floor restaurant and a heliport. The Northwestern Financial Center is being developed, designed, engineered, and constructed by Rauenhorst Corporation. (photo scanned from the 1971 promotional book, “Minneapolis - City of Lakes”)

The building now known as Well Fargo Plaza was completed in 1974, and at the time was one of the tallest buildings in the Twin Cities. Looking at this got me wondering, what are the tallest buildings in the cities of suburban Minneapolis? You were wondering that too? Awesome, I did us both a favor and looked it up. (all links go to the building database website Emporis)

Plymouth - 505 Waterford Park

Robbinsdale - North Memorial Medical Center Addition

Brooklyn Center - Embassy Suites Minneapolis Brooklyn Center

Brooklyn Park - Northland Inn

New Hope - Saint Therese Residence

Golden Valley - Colonnade Building

St. Louis Park - Metropoint Tower

Edina - The Westin Edina Galleria & Residences

Richfield - The Tower at City Bella

Bloomington - 8500 Tower

Eden Prairie - Wooddale Church

Minnetonka - 601 Carlson Parkway & 701 Carlson Parkway

Andover - Andover YMCA Community Center

Chanhassen - Minnesota Landscape Arboretum Oswald Visitor Center

Hopkins - Hopkins Village Apartments

Maple Grove - Maple Grove Hospital