William Taft was president, the Philadelphia A's won the 8th World Series and Ray Harroun won the very first Indianapolis 500 car race with an average speed of just over 75 miles per hour. The year was 1911 and the State Bank of Newburg began serving the banking needs of our community.
John J. Reichl was elected President and although he never worked at the bank he continued to serve as President for the next 51 years. He was the owner of Reichl's General Store in Newburg. In 1926, the bank advertised for a CEO. F. P. Isselman applied for the job along with 15 other applicants. F. P. got the job because he was the only one who could speak and understand German. An Isselman has been at the helm of the bank ever since.
The bank survived the Great Depression and was held up twice; once in 1936 (Dillinger Gang) and again in 1946. Neither was ever solved. We worked without power for 10 days during the 1976 ice storm and are surviving the present economic downturn.
The bank operated out of the original bank building until 1965, when a new bank was built a block away on Main Street. When we outgrew that building in 2000, we moved to our present facility along Hwy 33. In 2013 we added a 1,680 square foot addition adding five new offices, two bathrooms, larger break room for our staff, more storage and additional parking.
We have gone from the Horse and Buggy Era to the present Internet Age. We strive to give you the convenience of all the modern day technology along with maintaining our core value of knowing our customers. State Bank of Newburg is committed to providing excellent customer service on an individualized level.
We celebrated our 100th Anniversary in 2011 and look forward to celebrating more milestones as your independent community bank.
DECEMBER 31, 2015
Cash and Due from Banks $ 3,299,162
Federal Funds Sold 6,443,000
Cash Equivalents 9,742,162
Held-to-Maturity Securities, Fair Value of $26,945,866 26,974,070
Other Investments 556,500
Receivable, Net of an Allowance for Loan Losses
of $2,302,720 125,162,634
Premises and Equipment, Net of Accumulated Depreciation 1,335,706
Accrued Interest and Other Assets 4,411,108
Demand $ 13,181,916
Savings and NOW 73,382,080
Other Time Deposits
Accrued Interest and Payable and Other Liabilities 1,085,352
Total Liabilities 138,772,367
and Outstanding 72,000
Retained Earnings 14,066,613
Treasury Stock, at Cost (56,800)
Stockholders’ Equity 29,409,813
Total Liabilities and Stockholders’ Equity $168,182,180