Since The Bank of Elk River was chartered in 1885, the Babcock family has been part of the business, and recently the bank marked not only its 128th anniversary, but also the 90th birthday of its former chairman, Edmund P. Babcock (pictured).
Edmund’s great-grandfather, Willard L. Babcock, started the bank as a partnership with other businessmen in Elk River — startup capital: $10,000. Edmund is the fourth generation of his family to be connected with management of the bank. He joined the bank in 1974 and was elected chairman in 1979, serving until his retirement in 2008. John Babcock, current president/CEO/chairman, is part of the fifth generation.
A U.S. flag and case were presented to the bank as a part of the Independent Community Bankers of Minnesota’s ongoing program to recognize member banks that were chartered 100 or more years ago.