State Bank of Newburg throughout the Years.
Click on the corresponding year for more details.
stack of vintage photos
Click on the corresponding year for more details.
The State Bank of Newburg began serving the financial needs of the community Tuesday, December 12, 1911 with two employees and $12,000 in capital. Construction of the original bank building cost $2,454.70.
John J. Reichl, although never worked at the bank, served as the first president for 51 years from 1911-1962. John G. Reichl was the owner of Reichl’s General Store in Newburg.
The State Bank of Newburg had $294,000 in total assets.
F.P. Isselman began his career at the bank in 1926 making $75 semi-monthly. F.P. came to the bank when the bank advertised for a cashier. Among the 15 other applicants that applied, F.P. was the only one who could speak and understand German which made him the ideal candidate for the position. Since then, the bank has been a family run.
The State Bank of Newburg had $232,000 in total assets.
The bank closed its doors for one week during the Great Depression as ordered by the President Roosevelt.
Monday, June 8 a five year old girl named Annabel was the only witness to the first bank robbery the State Bank of Newburg experienced. Both employees, Grace Brott and F.P. Isselman were in the bank at the time of the robbery. The two robbers, rumored to be members of the Dillinger Gang, escaped with approximately $5,000 to $6,000 in their milk pails. To this day, the bank bandits have not been apprehended.
The State Bank of Newburg had $391,000 in total assets.
F.P. Isselman opened the doors to find himself face to face with a robber. Isselman was locked in the basement while the robber fled with $800. Joseph Lochen, the auto dealer from across the street from the bank heard Isselman tapping on the window and released him.
Jack Isselman started in 1949 as second in command. There were only two employees. His first job in the morning was to stoke the furnace with coal and remove 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.
The State Bank of Newburg reached over one million in total assets with a total of $1,066,000 at the end of 1951.The bank had $13,137.33 of profits before income taxes.
Jack Isselman returned to the bank in January of 1953 after serving as a Corporal in the Korean War.
The State Bank of Newburg had $1,693,000 in total assets.
F.P. Isselman officially became president of the State Bank of Newburg January 9, 1962. He served as president from 1962-1988.
The bank operated out of the original building on Main Street until 1965 when it then moved a block away to 614 Main Street which is the current office of the Village of Newburg. The cost to construct the bank building was $59,778 with additional vault equipment costs totaling $5,948.
The State Bank of Newburg had $4,415,000 in total assets.
The Village of Newburg became incorporated in 1974. Both F.P. and Jack were very involved in the community becoming incorporated. Jack served as the Village’s first treasurer.
In 1976 the bank continued to serve the community, although without power for 10 days, during the ice storm. The fire department would come in the morning with a portable generator and hook it up to the heating system for a couple hours and employees relied on daylight to conduct business.
The State Bank of Newburg had $9,050,000 in total assets.
Jack Isselman was elected the third president of the State Bank of Newburg on January 12, 1988. He served as president from 1988-2011.
Jonathan Isselman started working at the bank in 1989. Some of his first duties included filing checks and taking the mail.
The State Bank of Newburg had $25,919,000 in total assets.
The State Bank of Newburg started offering Tyme Cards to customers.
Jack Isselman was honored by the Wisconsin Bankers Association for 50 years of employment in the industry. His duties in that time included teller and bookkeeper, assistant cashier, cashier, president and board chairman, along with many other non-administrative duties. In those 50 years, Jack has only taken 3 sick days.
In 2000 the bank moved to a new, larger building on the corner of Congress Drive and Hwy 33 to allow the bank to grow. The original building was 6,500 square feet, but has seen two additions since then. This is the same building the bank continues to operate out of today.
The State Bank of Newburg had $75,001,000 in total assets.
Jack Isselman was honored by the Wisconsin Bankers Association for 60 years of employment in the industry; an achievement that is very rare.
The bank launched the first State Bank of Newburg website in August of 2009 with the help of Mid-West Iconic.
The State Bank of Newburg had $162,194,000 in total assets.
The State Bank of Newburg 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.
Jonathan Isselman was elected president in January 1, 2012. He continues to serve as president of the State Bank of Newburg.
In 2013 an addition was added to the bank building adding five new offices, 2 more bathrooms, a bigger break room and more storage.
The State Bank of Newburg partnered with The Threshold Incorporated in 2016 to offer employment opportunities to those with disabilities.
2017 brought numerous bank enhancements to the State Bank of Newburg. A new look to our website, mobile app, remote deposit capture and ACH originations are some of the changes we are seeing.
At the end of the first full year in the banking industry, State Bank of Newburg had $67 thousand in total assets. The bank has only continued to grow from there with over a $170 million in current total assets. The community we serve has grown from the Village of Newburg to many of the surrounding towns, cities and villages.
The State Bank of Newburg takes pride in the community it serves. Not only are we committed to providing excellent customer service inside our doors, but we extend that service into the community. You can always find us serving ice cream at the Washington County Breakfast on the Farm, clerking during the Washington County 4-H Livestock Auction, and volunteering at the Newburg Fireman’s Picnic. Our most recent community outreach is partnering with The Threshold Incorporated to provide an employment opportunity to those with disabilities. We take pride in providing employment opportunities for local individuals, partnering with local businesses, and giving our customers the chance they deserve.