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| died der som bankformann in 1931 KNUD C. HANSEN Among the properous financial instiutions of Otter Tail county mention must be made of the First National Bank, of Battle Lake, which is a reorganization of the old Otter Tail County State Bank, and of which Knud C. Hansen is the cashier. Knud C. Hansen was born near Christiana, Norway, June 16, 1868, a son of Christopher Hansen Bye and Boel Skatvedt. After his marriage, Mr. Hansen's father dropped the "Bye," and used "Stovern" in its place. Both Mr. Hansen's parents were born in Norway and spent their entire lives in that country. The elder Hansen was a farmer and reared a family of seven children, two of whom came to Amerrica, Helga, who is unmarried and lives in San Francisco, California, and Knud C., the immediate subject of this sketch. Knud C. Hansen received his education in the public schools of his native land, and at the age of nineteen years came to America. For seven years he was employed as clerk in a store in Sargent county, North Dakota, but in 1895 removed to Battle Lake, this county, and engaged in business with T. A. Ranstad, under the firm name of Ranstad & Hansen, and was thus engaged in the hardware and implement business until 1907, a period of twelve years. In 1907 Mr. Hansen reorganized the old Otter Tail County State Bank into the First National Bank of Battle Lake, and was elected cashier of the institution, a position which he now holds. The First National Bank of Battle Lake has as its president, Charles Keith; vice-president, Henry Olson; cashier, K. C. Hansen and assistant cashier, E. J. Rudh. A condensed statement from the report made to the comptroller of the currency on May 1, 1915, shows the bank to have total resources of $283,078.17, divided as follows: Loans, $213,613.61; overdrafts, $138.02; United States bonds, $25,000; banking house, $8,000; stock federal reserve bank, $850.00; cash on hand and due from banks, $34,226.54; redemption fund with United States treasurer, $1,250.00. The liabilities of the bank, which amount to $228,078.17, are divided as follows: Capital stock, $25,000.00; surplus, $3,500.00; undivided profits, $1,263.03; circulation, $25,000.00; deposits, $228,315.14. The bank makes a specialty of farm loans at the lowest rates, and all matters entrusted to that institution receive prompt, careful and confidential attention. The bank is in a most prosperous condition, due in a large measure to the efficient banking methods of its officers, and the cordial relations between the public and its cashier. Knud C. Hansen, since coming to America, has been identified wth the Republican party. He is a member of the Benevolent and Protective Order of Elks and of the Modern Woodmen of America at Fergus Falls. History of Otter Tail County, Minnesota, Illustrated 1916, Vol. 2. John W. Mason, editor. | ||||||||||||||||||
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