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Security Bank

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Hibbing brings to mind a number of different images, but “Wild West” isn’t normally one of them; those who know Security State Bank, however, would tend to think along those lines. After receiving its Certificate of Incorporation on January 17, 1911, Security State Bank of 3rd Avenue was open for business on February 9, 1911. The bank had teller cages that were bullet-proof and each was equipped with a 38-calibur pistol to keep secure from bank robbers and other ne’er-do-wells. The tellers of Security State Bank also had “turn tables” by which the money was handled. These “McClintock Bandit Barriers” rendered the guns of thieves useless. The bank eventually moved to 401 E. Howard St. In 1929, young Norman Welo joined the organization. He became president of the bank in 1966 and was Chairman of the Board until his passing in 1999. He served the bank for 70 years. The bank relocated to 701 E. Howard Street in March of 1975. The move took a lot of work, especially since it required a 9960 pound vault door to be transferred in the process[1].

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Security State Bank has been renovated and innovated continually. In 2000, the bank received the Small Business Administration’s “Small Business Friendly” designation, as it had for several consecutive years. At this time, the bank’s motto read, “Looking Forward, Reaching Higher.” In 2006, more renovations were made to the bank’s interior and the motto “There’s a Difference” was adhered to. After completion of external renovations in 2009, Security State Bank prepares to celebrate its 100th anniversary of service to Hibbing in 2011[1].

[1] 1 “Security State Bank.” 2010. www.ssbhibbing.com. “History” 12/2010

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