For over a century, the First State Bank of Harvey has been growing and changing with the community. Originally chartered in 1913 at Silva, North Dakota as the First State Bank of Silva with $10,000 in capital, the bank has grown to around a $90 million institution with a branch in Anamoose, ND.
Founded by H. Thorsen, A.O. Refling and H.L. Thorsen, the bank was purchased by four local families (Barstad, Gunnerud, Lindseth, and Lysne) in 1929 and the following officers were named: T.A. Lindseth, President and Chairman of the Board; P.P. Lysne, Vice President; A.O. Barstad, Cashier; and Anton Lindseth as the fifth board member.
The bank operated in Silva until 1936, when the charter was transferred to Harvey. The assets of the First National Bank of Harvey were purchased and the First State Bank of Harvey began operations in the building at the corner of 8th Street and Lincoln Avenue. With A.O. Barstad as president, the bank was one of the few smaller North Dakota banks to survive the depression. It remained solvent and open for business, an indication of A.O. Barstad’s dedication and ability in his field.
The bank remained in the building on the corner of 8th Street and Lincoln Avenue until a fire destroyed the building in 1952. For one year the bank operated in the Ottertail Power Company building at 1011 Lincoln Avenue, until they moved into a building at the corner of 9th Street and Lincoln Avenue. The growth of the bank made it necessary to build an addition to the structure in 1972. The additional space was necessary for an expanded bookkeeping department, a drive-up teller station, night depository, and garage. In January of 1999, the bank added a branch in nearby Anamoose. That same month, builders began renovating a building that would become the bank’s new main office. In early August, the bank more than doubled in size when it moved into a building that once housed a grocery store at 700 Lincoln Avenue.
The longevity and prosperity of the First State Bank of Harvey can be attributed to its many dedicated employees and loyal customers over the years. The bank has been fortunate enough to have many long-term workers, creating a family-like atmosphere that employees and customers enjoy and appreciate.
Every president since T.A. Lindseth in 1929, has been a member of one of the founding families, providing well qualified leadership, while keeping the best interest of the bank and the community as their priority. Following Lindseth as president were A.O. Barstad, Edwin Lysne, Robert Barstad, Roland (Pete) Barstad, and Howard F. Schaan, who retired as President in February 2024. Though the current president is not a member of the original families he has been with First State Bank of Harvey since February of 2009. Jared Hanson began as a loan officer for the bank and has acquired many different roles and responsibilities for the bank over the years. In 2024 Jared became the President and CEO, taking over after Howard Schaan retired.
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