For more than a century The Goose River Bank has served Mayville and the surrounding communities. The name is significant. It expresses the fact that this bank has friends and depositors all along the Goose River and beyond.
For ten years, before Mayville was established, there were settlers along the Goose River who hauled their wheat to Fargo each fall and purchased groceries, shoes and clothing. By 1881 they were longing for a safe place to deposit their monies.
N. K. Hubbard and Co. (the company consisting of N. K. Hubbard, L. B. Gibbs and J. A. Loomis) opened The Goose River Bank on May 23, 1881, although it conducted its business under the name of N. K. Hubbard and Co. They announced they were prepared to offer the people of Mayville and surrounding Goose River Country, every accommodation consistent with legitimate banking business. They advertised that they would buy and sell Eastern and Foreign Exchange, sell foreign passage tickets, receive deposits, make collections in all parts of the country, discount good paper, loan money on improved real estate security, furnish money and draw papers for parties desiring to prove up on their claims, and in short, endeavor to make the banking house of general use to the people.
They felt they needed references and gave the following: First National Bank, Fargo, of which N. K. Hubbard was Vice President; Lake Country Bank of Painesville, Ohio, with which L. B. Gibbs was connected for eight years; Hamden Savings Bank of Springfield, Mass., with which J. A. Loomis was connected for eight years; First National Bank of St. Paul; Capitol Bank of St. Paul; and Security Bank of Minneapolis.
In 1891, when North Dakota became a State, The Goose River Bank was organized as a State Bank and received its Charter. This was the first State Bank organized in the new State of North Dakota.
June 12, 1886, C. S. Edwards replaced J. A. Loomis. The statement for that year showed assets of $23,571.70. In 1891 assets were $70,466.84. For each ten year period thereafter, until the 1930’s, the bank more than doubled its deposits. It has increased in the years that followed until in 2009 deposits totaled $89,731,654.00.
The first stockholders of the newly organized State Bank, March 21, 1891, were K. H. Brunsdale, Kate C. Dean, M. L. Elken, Mary Spencer, Maxwell Brothers, Robert Maxwell and William Spencer, along with the original associates.
During the bank's history, its directors have been men of wisdom and insight. Among those great men was Norman Brunsdale, who served as director from 1919 until he was elected governor of North Dakota in 1949.
At the time The Goose River Bank was founded and still operating under N.K. Hubbard & Company, its offices were located in the west end of the Clayton and Hubbard store. In 1887 The Goose River Bank portion of N.K. Hubbard & Company moved to a new location, designed exclusively for banking business. The new location was a small two story wood frame building. In 1898 The Goose River Bank constructed a grand brick building at 45 Main Street East, in Mayville. The bank served its customers at this location until March 29, 1974, when they moved to their new location at 44 Main Street West. In 1981, in honor of the centennial celebration of The Goose River Bank, the city of Mayville and the State of North Dakota, the bank underwent a remodeling. In 1990 an expansion project was completed, which added 2,000 square feet to the existing building and in 2008 a complete renovation was completed.
In June, 1996, construction began on The Goose River Bank in Hillsboro, ND. In January, 1997 the site at 515 West Caledonia Avenue was officially opened.
In October, 2004 construction began on The Goose River Bank in Hatton, ND and on July 5, 2005 operations began at 1009 Dakota Avenue.
The Officers of The Goose River Bank, who have directed The Bank’s policies, have been men of vision and have contributed greatly in developing the community. They give personal service to all businesses entrusted to it.