The Region

Ninth District Buildings and General Operations

Published August 1, 1988  |  August 1988 issue

1900-1919

Minneapolis Federal Reserve Bank incorporated/ May 18, 1914
First payments on capital stock totaling $9,060, received from seven member banks/Oct. 27, 1914
Temporary Office opens in Minnesota Loan & Trust Co. building with 709 stockholding members/Nov. 2, 1914
First deposits credited to reserve accounts of four member banks, titling $16,420/Nov. 12, 1914
Minneapolis Fed moves to offices in Lumber Exchange Building/Nov. 16, 1914; moves again to the New York Life Building/Jan. 15, 1915
Boundaries of Ninth District altered, 52 banks in 26 Wisconsin counties transferred to Seventh District/Oct. 12, 1916
War Bond program adds to growth of Minneapolis Fed/1917-1919

1920s

Work of U.S. Subtreasuries transferred to Federal Reserve Banks, resulting in additions to staff/Early '20s
Helena Branch opens to serve Montana portion of district/1921
Minneapolis Fed moves into own newly constructed building designed by Cass Gilbert/1925

1930s

Earthquake damages Helena branch building/1934
Helena branch operations move into new building/1935
The Great Depression, along with Congressional legislation passed in the '30s, causes large swings in staff levels

1940s

Minneapolis Fed opens rented annex in former Farmers & Mechanics bank building to accommodate major expansion in staff and functions during World War II
Addition to Helena branch building opened/1946

1950s

Minneapolis Fed leases additional space in Syndicate Building
Eight stories added to Minneapolis Fed's four-story Cass Gilbert structure/1959

1960s

Planning begins for new Minneapolis Fed building/1969

1970s

Minneapolis Fed operations move to new building designed by
Gunnar Birkerts/1973
Helena Branch leases space to accommodate expanded check operations/1973

1980s

Helena Branch leases additional space/1983
Plans for new Helena branch building approved, construction begins/1988 (projected completion—spring 1990)

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