Wells Fargo is celebrating its centennial in Petersburg Thursday, June 12.
The local Wells Fargo Branch began as The Bank of Petersburg, which was organized in September of 1912 with a capital of $5,000—roughly $121,000 in today’s dollars.
The first cashier and manager, K.L. Steberg, ran the one-man bank for more than two years.
The bank was incorporated in 1914 and the capital was increased to $25,000.
By December 31, 1940, deposits totaled around $582,0000—around $9 million today.
In 1972, The Bank of Petersburg merged and became the Petersburg Branch of the National Bank of Alaska when a si...
Reader Comments(0)