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 and Cash Equivalents                                                                            9,742,162


            Held-to-Maturity Securities, Fair Value of $26,945,866                                     26,974,070

            Other Investments                                                                                                     556,500

            Loans 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


                    Total Assets                                                                                              $168,182,180






                Demand                                                                                                        $   13,181,916

                Savings and NOW                                                                                             73,382,080

                Other Time Deposits                                                                                         51,123,019  

                    Total Deposits                                                                                             137,687,015


            Accrued Interest and Payable and Other Liabilities                                               1,085,352


                    Total Liabilities                                                                                          138,772,367



        Common Stock

            Issued and Outstanding                                                                                              72,000

        Surplus                                                                                                                     15,328,000

        Retained Earnings                                                                                                    14,066,613

        Treasury Stock, at Cost                                                                                                 (56,800)


                    Total Stockholders’ Equity                                                                          29,409,813


                    Total Liabilities and Stockholders’ Equity                                             $168,182,180


President - Jonathan Isselman

Cashier - Scott Fisher

Sr. Loan Officer - Chris Guse

Loan Officer - Doug Hein

Loan Officer - Ken Mayer

Operations Officer - Stacy Grulke

Compliance Officer - Deborah Pankratz

Internal Auditor - Margaret Reindl


Submitted by Jack Isselman

Updated by Jonathan Isselman, President as of January 2012

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