The First Lewiston Banks

The First Lewiston Banks. . , The first banking operation in Lewiston was performed by the M and H Lumber Co. by way of the Company Store. Workers were allowed to "bank" their wages in the Company account if they wished and could receive credit or chits drawn on the Company's account to pay for merchandise, largely at the Company store. They could withdraw cash when needed; it was convenient and a much safer than leaving cash at home. The company store was located on the east side of Kneeland. , , With the rapid growth of the new community, a private banking resource was sorely needed, and before 1908 The Lewiston Bank- Beckman and Barkman, Bankers, a private bank, was chartered and operated successfully on the west side of Kneeland. Fire destroyed the Michelson Hanson Co. store and The Lewiston Bank - Beckman and Barkman building. , , Herman Lunden formed the Lewiston Bank of Herman Lunden and Company, comprised of the original M and H Co. payroll vault that survived the fires. This vault was 4' x 6' in dimension and made of fire brick with a steel door. A small building (previously the Stickford Creamery) was brought in and enclosed the vault. The new Bank of Lewiston opened to depositors in 1920. , , The bank was open on Mondays, Wednesdays, and Fridays. In those days all transactions were calculated by manual arithmetic and then posted to thick ledger books at the close of business. It was a very tedious process and the reason why people referred to "bankers' hours" was because of the need to close early and record all the transactions of the day. , , In 1930 the name was changed to Lewiston Bank of Doty, Briley and Company. , , On May 20, 1931, the bank was robbed by a lone gunman of questionable intelligence. He had not planned his escape very well as he first had to stop at Sachs' gas pump to fuel the getaway vehicle. He then proceeded south where he ran into East Twin Lake blocking his escape. The crowd watched the robber drive south and then drive back north through town, waving his gun. He finally got out of town, but was recognized as being from a prominent Gaylord family. He was arrested 3 days later. , , The Lewiston Bank serviced the community's needs for many years and continued to operate successfully out of this humble structure throughout the Great Depression when many others failed. A new building was built on the east side of Kneeland in 1948. , , When it was changed to the Lewiston State Bank in 1964, it was one of only 2 private banks left in existence in Michigan. , , Donated by Cara Lynn Pender and Nicolet National Bank. , , The Lewiston Heritage Trail is a DDA project funded by private donors with period photos and historical text provided by the Lewiston Area Historical Society.