Mr. Orlando B. Turrell of Saint Paul filed to organize the Marine Bank on January 25, 1859 with a capital of $25,000. On February 22, 1859 the auditor authorized Wellstood, Hay & Whiting to engrave a 1-2-3-5 plate and print 5,000 sheets amounting to $55,000. The bank did not open for
business or issue notes until it was sold to Daniel Wells, Jr., Charles K. Wells and James Ludington, all of Milwaukee, on November 11, 1862. A total of $39,264 was issued, and $423 was left outstanding in 1868. Notes were redeemed at par.
This bank converted into the National Marine Bank of Saint Paul, Charter 1258, in 1865.