Lincoln Bank Building
| Company type | Private |
|---|---|
| Industry | Banking |
| Founded | 1917 |
| Founder | Harry Pence |
| Headquarters | Minneapolis, Minnesota , United States |
| Products | Banking services |
The Lincoln Bank Building is situated on Hennepin Avenue in the heart of downtown Minneapolis, Minnesota. It earned a place on the National Register of Historic Places in October 2012.
Background
Established in 1917 by local automobile entrepreneur Harry Pence along with several investors, Lincoln National Bank was originally intended to be named "Second National Bank." However, this name was not approved by the Treasury Department. Pence ultimately selected Abraham Lincoln as the bank’s namesake, symbolizing qualities such as strength, loyalty, and prudence—attributes considered essential for a national banking institution.
Locations
The bank deliberately targeted the automobile sector and its associated enterprises located along Hennepin Avenue, as well as the adjacent warehouse district and the commercial areas on Second Avenue North. Although Minneapolis’s primary financial hub was centered on Marquette Avenue just two blocks east, Pence focused on catering to business interests concentrated around downtown Hennepin Avenue.
Initially operating from 809 Hennepin Avenue, Lincoln National Bank’s expansion necessitated a larger facility. In 1919, Pence revealed plans for an eight-story building at 730 Hennepin Avenue, positioned opposite his Pence Automobile Company Building. The architects Long, Lamoreaux and Long—responsible for the original design—crafted the $1 million structure, which officially opened on August 9, 1921. This building accommodated both Lincoln National Bank and its affiliate Lincoln Trust and Savings Bank while leasing out office space across its upper seven floors.
Branch offices
In 1921, Daniel Richard Crissinger assumed the role of Comptroller of the Currency and introduced a revised regulatory stance toward national banks. Differing from his predecessors, he declared there were no restrictions on branch offices within a bank’s authorized city limits. As a result, leading banks such as Northwestern National Bank (now part of Wells Fargo) and First National Bank (currently U.S. Bank) began acquiring smaller banks to convert them into branches.
Northwestern National Bank purchased Lincoln National Bank along with Lincoln Trust and Savings Bank, ensuring customers received continuity alongside enhanced services through Northwestern’s extensive domestic and international network.
Residential conversion
In 2013, approval was granted to transform the upper seven floors of the Lincoln Bank Building into residential units, utilizing tax incentives aimed at revitalizing this historic structure.