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. 


Statement of Condition for the State Bank of Newburg at the close of business on December 31, 2013:


ASSETS:




Cash and Due from Banks 


 $     3,082,816.72


Securities 


 $   35,005,854.42


Loans


 $ 122,206,081.55 


Bank Building


 $      1,364,524.53


Furniture & Fixtures


 $        158,668.98


Accrued Interest on Loans 


 $        319,936.27 


Accrued Interest on  Securities


 $        100,232.11 


 Other Assets


 $      5,022,192.74








TOTAL ASSETS


$  167,260,307.32






LIABILITIES:




Demand Deposits


 $   10,680,881.05


Time Deposits 


 $ 129,758,672.59 



Total Deposits


 $ 140,439.553.64







Accrued Interest on Deposits

 


 $        104,551.36


Accrued Expense


 $        692,004.30



Total Liabilities


 $ 141,236,109.30







Capital


  $        72,000.00 


Surplus


  $ 15,328,000.00 


Undivided Profits & Reserves

 


  $  10,624,198.02 



Total Capital


  $  26,024,198.02 








TOTAL LIABILITIES AND CAPITAL

 $167,260,307.32






Note: A loan loss reserve of $2,300,000.00, has been deducted from loans and undivided profits.

 


OFFICERS

President – Jonathan Isselman

Cashier – Scott Fisher

Loan Officer – Doug Hein

Loan Officer – Ken Mayer

Loan Officer – Chris Guse

Operations – Stacy Grulke

Assistant Cashier – Deborah Pankratz

Auditor – Margaret Reindl

 

DIRECTORS

Edward Wilger

Doug Hein

John H. Isselman

Jonathan Isselman

Scott Fisher

Peter Waldkirch

Jordan Rathke


Submitted by Jack Isselman

Updated by Jonathan Isselman, President as of January 2012






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