The First National Bank of Cannon Falls, Minn., charter 2387, lasted less than three years between 1878 and 1881 before being converted into the Citizens Bank under a state charter. During its brief existence the bankers used only $5s which consisted of a modest quantity of these superior looking Series of 1875 notes. None have been reported. Cannon Falls is located in the southeastern corner of the state, being named after a water fall on the Cannon River. It developed as a mill town as a result.
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