Burton P. Allen Jr.

Allen, born in Milaca, graduated from Wabasha High School in 1946. He earned a bachelor of arts degree, with a major in Economics, from Carleton College in Northfield in 1950 and received his MBA from Wharton Graduate School at the University of Pennsylvania in 1952, with a major in Accounting.

Allen entered the U.S. Air Force and served for three years as a 1st Lieutenant and a special agent of the Office of Special Investigations. He joined his father at First National Bank in Milaca in 1956 and succeeded him as President-CEO upon his father’s death in 1965. Pete’s grandfather, J.A. Allen, had been one of the first presidents of the bank. Allen has been involved in numerous community organizations and projects. He served as Milaca Chamber of Commerce President three times, Milaca Lions Club President, Milaca Golf Club President, Chairman of the Central Mille Lacs United Way, Milaca Development Corporation Director and Central Minnesota Council of Boy Scouts Vice President.

He’s been active with the banking industry, having held positions with the Minnesota Bankers Association (MBA) and American Bankers Association (ABA) including President in 1973-74. He served as the national chairman of the American Institute of Banking, the education arm of the ABA. He served as a director of the Federal Reserve Bank of Minneapolis.

Allen remains an active director and Chairman Emeritus at First National Bank and is a director of the Falcon National Bank at Foley.

Burton "Pete" Allen passed away on April 4, 2012.
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