Minneapolis Bank

$2 Minneapolis Bank

$2 Minneapolis Bank (Back)

$5 Minneapolis Bank

$5 Minneapolis Bank (Back)

Jacob K. Sidle, James Graham and Henry G. Sidle, all of Minneapolis, filed to organize the Minneapolis Bank on February 2, 1864 with a capital of $60,000. American Bank Note Company engraved a 1-2-5-10 plate. A total of $40,000 in notes was issued, and $660 was left unredeemed in
1870. Notes were redeemed at par.

In the words of fellow Minneapolis banker Rufus J. Baldwin, Jacob Sidle was “placed as the most eminent banker in the history of the city. Banking was his chief pursuit and (he) absorbed all the fervor of his ambition.” He was born on March 31, 1821 in York, Pennsylvania. At that town, he was associated with his father, Henry Sidle, and his younger brother, Henry G. Sidle, for more than twenty-five years in a general store.

In 1857, Jacob decided to tour the West in search of better opportunities, accompanied by York County businessman Peter Wolford. They found good prospects in Minneapolis. They moved their families to Minnesota, and the two men opened the banking firm of Sidle, Wolford & Company.

Henry G. Sidle was born on July 22, 1822, also in York, Pennsylvania. At the age of 17, his father turned over the general store to him and his brother. Henry took sole charge of the store after his brother left for Minnesota. In 1863, after watching his brother’s success on the western frontier, Henry sold the mercantile store and moved his family to Minneapolis. The following year, the two brothers opened a state bank known as Minneapolis Bank. Jacob was president, and Henry was cashier.

The bank converted to the First National Bank of Minneapolis, Charter 710. It opened for business under the new title on June 1, 1865.

Jacob also invested in other business activities, and became an important factor in the manufacturing and railroad development of the city. He died in 1888.