Tuesday, December 12, 1911 – We’re Open!
The bank had two employees & $12,000 in capital. Construction Cost of Original Bank Building = $2,454.70. First President = John J. Reichl. Mr. Reichl served as president for 51 years from 1911-1962. He never worked at the bank. He was the owner of Reichl’s General Store in Newburg.
Total Assets = $294,000
F.P applied at the bank as cashier. He was selected as the ideal candidate of 15 applicants because he could speak and understand German. He began his career making $75 semi-monthly.
Total Assets = $232,000
Banking During the Great Depression
The bank closed its doors for one week during the Great Depression as ordered by President Roosevelt.
Five-year-old Annabel was the only non-employee witness to the first bank robbery the bank experienced on Monday, June 8. Both employees were in the bank at the time of the robbery. The two robbers, rumored to be members of the Dillinger Gang, escaped with approximately $5-6,000 in their milk pails. To this day, the bank bandits have not been apprehended.
Total Assets = $391,000
Robbery Number Two
F.P. opened the doors to find himself face to face with a robber. F.P. was locked in the basement while the robber fled with $800. Joseph Lochen, the auto dealer from across the street, heard Isselman tapping on the window and released him.
Jack started as second in command with two employees. He started each morning by stoking the furnace with coal and removing the ashes from the day before. He was supposed to start November 15, but negotiated to start December 1 so he could go deer hunting.
Over One Million in Total Assets
Total Assets = $1,066,000. The bank had $13,137.33 of profits before income taxes.
Returning from War
Jack returned to the bank in January of 1953 after serving as a Corporal in the Korean War.
Total Assets = $1,693,000
Second President – F.P. Isselman
January 9, 1962 - F.P. Isselman officially became president of the bank. He served as president from 1962-1988.
New Bank on Main Street
The bank moved a block away from the original building to 614 Main Street (current village hall). Construction Cost of Bank Building = $59,778 Additional vault equipment = $5,948.
Total Assets = $4,415,000
The Village of Newburg became incorporated. Both F.P. and Jack were very involved in the community becoming incorporated. Jack served as the Village’s first treasurer.
The bank continued to serve the community, although without power for 10 days, during the ice storm. The fire department would come with a portable generator and hook it up to the heating system for a couple hours. Employees relied on daylight to conduct business.
Total Assets = $9,050,000
Third President – Jack Isselman
January 12, 1988 - Jack Isselman was elected president. He served as president from 1988-2011.
Jonathan started working at the bank. Some of his duties included filing checks and taking the mail.
Total Assets = $25,919,000
Tyme Cards now offered to customers.
50 Years in Banking
Jack Isselman was honored by the Wisconsin Bankers Association for 50 years of employment in the industry. His duties at that time included teller and bookkeeper, assistant cashier, cashier, president and board chairman, along with many other non-administrative duties. Jack has only taken 3 sick days in that time.
The bank moved to the corner of Congress Drive and Hwy 33 to allow the bank to grow. The original building was 6,500 square feet. This is the same building the bank continues to operate out of today.
Total Assets = $75,001,000
60 Years in Banking
Jack Isselman was honored by the Wisconsin Bankers Association for 60 years of employment in the industry; an achievement that is very rare.
Thanks to Midwest Iconic the bank launched it’s first website in August.
Total Assets = $162,194,000
100 Year Anniversary
The bank celebrated 100 years of community involvement, stability and a personal touch to banking. The bank served food, cake and had a live band for the local community to share in the celebration.
Fourth President – Jonathan Isselman
January 1, 2012 – Jonathan was elected president. He continues to serve as the current president.
The bank added five new offices, two more bathrooms, a bigger break room and more storage to the current building.
We partnered with The Threshold Incorporated to offer employment opportunities to those with disabilities
A new look to our website, mobile app, remote deposit capture and ACH origination are some of the changes we brought to our customers.
Total Assets = $231,033,000
Where We’re at Today
Service both inside our doors and outside are doors is our top priority. We are continually looking to partner with local, non-profit organizations. We take pride in providing employment opportunities for local individuals, partnering with local businesses and giving customers the chance they deserve. The community we serve has grown immensely over the last 110+ years, but our core values of providing a sound bank remains the same.