Helge Alexander Haugan was born in Christiania, Norway. As a boy of sixteen he came to Chicago. In 1871 he engaged in business of his own as a contractor in the gas-fitting and plumbing business meeting with excellent success. His mind, however, was full of plans for larger things and in 1879, with John R. Lindgren, he founded the business of Haugan & Lindgren Bankers, in which firm Mr. Haugan was the senior member. In 1891 when the bank was incorporated as the State Bank of Chicago, Mr. Haugan was elected its president and has ever since occupied this position, in addition to being a director of the Chicago Title and Trust Company. He is a member of the Union League Club, the Midday Club, and the Bankers Club. Occupied with his increasing duties as head of the bank Mr. Haugan has never taken an active part in politics nor sought office, although a warm friend of good government and civic reform. He was, however a member of the Board of Education under Mayor Swift and later served for several years as treasurer of the Lincoln 2Park Board. He was married in Chicago in 1868 to Laura A. Wardrum and has six children of whom Oscar H. Haugan and Henry A. Haugan are connected with the State Bank of Chicago.

Oscar Haugan, born November 11, 1872, is manager of the Real Estate department; he is thoroughly versed in the mortage loan business and well informed on Real Estate Value in Chicago. He is a member of the Chicago Real Estate Board and was its treasurer for one term in 1905.

Henry A. Haugan was born August 14, 1879. He entered the State Bank of Chicago as a clerk, and worked in various departments until he was appointed assistant cashier.