Wayzata State Bank Remembered

The Wayzata State Bank was the first financial institution on Lake Minnetonka to have a building exclusively for its own use.

                          Courtesy Wayzata Historical Society

According to Census data, Wayzata’s population was 276 in 1900. By 1910 it had grown to 492 people.

As the population grew, so did the community’s need for a local bank.

Five businessmen put up $10,000 in capital in the summer of 1908 to start the Wayzata State Bank, which included a construction cost of $2,246.50.

The building was designed by Lowell A. Lamoreau, a Minneapolils architect, and the contract was taken by Allen T. Dart, of Wayzata. The design was colonial. The large columns and exterior walls were finished in rough cast concrete.

Courtesy Wayzata Historical Society

It stood across the street from the Great Northern railroad station on the northeast corner of Lake Street and Barry Avenue.

The bank had three brass teller’s cages, a small walk-in vault, and an office.

There was a buzzer under one of the teller’s cages could be rung next door at Pettitt & Kysor Grocery to alert them in the event of a robbery.

When it officially opened for business on January 18, 1909, the bank was manned by just two employees: a cashier and a bookkeeper.

Courtesy Wayzata Historical Society

Resident boat builder Royal C. Moore served as its first president from 1908 to 1912, and for decades the bank helped Wayzata’s economy grow by providing loans to local businesspeople and homeowners.

By 1950, however, it had outgrown the original building and moved to a new location.

Courtesy Wayzata Historical Society

Several other businesses subsequently occupied the original building, including Five Swans gifts.

The original structure stood until 2019.

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