Property: Dorchester, State Bank
Contact: Owen Public Library
Surnames: BLODGETT BRECKE BRIEMANN CHAMNESS GUTWASSER HIEBSCH HOLLENBACH IVERSON KAYHART LAACK LECLAIRE LIEDERS LINDNER MARQUARDT MUSALA NAGEL NEDRY SAUTER SCHIEF SCHOMMER SCHULTZ SMITH SORENSON STURNER WEIDEMAN WELLS
----Source: Newspaper Clipping
DORCHESTER STATE BANK
On June 14, 1906 a group of citizens of the vicinity of Dorchester, Wisconsin met at the G. N. Schultz hall in Dorchester for the purpose of organizing a bank. Frank Nagel was elected president of the meeting with John Sturner secretary. William F. Brieman of Theresa, Wis. Was present and explained the necessary procedure. Articles of Incorporation were signed by the following: Dr. H. M. Nedry, W. D. Chamness, G. N. Schultz, Fred Gutwasser, John Hollenbach, Andrew Sorenson, Hiram Kayhart, John Sturner, Knute Iverson, Julius LeClaire, Andrew Lieders, Martin Musala, Ed Brecke, Fred Lindner, Herman Marquardt, Fred Laack, Frank Nagel and William F. Briemann.
Article of Incorporation were approved by M. O. Berg, Commissioner of Banking on June 29, 1906 with the first meeting of the stockholders held on July 7, 1906. The first Board of Directors elected were: Dr. H. M. Nedry, W. D. Chamness, Fred Gutwasser, G. N. Schultz, Hiram Kayhart, Herman Marquardt and William F. Brieman.
On July 9, 1906 the first meeting of the Board of Directors was held and William F. Briemann was elected cashier, Dr. H. M. Nedry, president, and G. N. Schultz, vice president. The capital stock of the bank was $10,000.00. The first banking quarters was located in the F. A. Distelhorst store building (now the location of the Neal Smith, Inc. building one-half block south of the present bank building). The rental of the bank quarters was $6.00 per month. The first available bank statement showed assets of $60,434.83.
On June 2, 1908 Fred Gutwasser was elected as president to fill the unexpired term of Dr. Nedry, resigned. On October 14, 1908 it was decided to build a new bank at the site of the present bank building. Over the years many changes on the Board of Directors were affected at the annual meetings. In 1961 the bank was completely remodeled inside and a new front was put on.
The successive presidents of the bank were: Mr. C. E. Blodgett of the Blodgett Cheese Company, Marshfield, 1908 to 1923 Bert Wells Jan. 28, 1923 to July 15, 1924, Frank V. Hiebsch 1923 to Jan. 9, 1962 and Dr. A. W. Shief has served as president since that time. Other present officers are: Gerald Schommer, cashier, and Miss Arlene Weideman, assistant cashier. Present directors are Dr. A. W. Schief, Donald Sauter, L. D. Sorenson, Clifford Wetterau and M. S. Sorenson. Mr. M. S. Sorenson has been with the Dorchester State Bank since 1918 or a total of 55 years.
----Source: Historical Sketches of Dorchester, Wisconsin (1873-1973)
The advertisement below was scanned from the "Clark County Herald", 17 Apr 1908, for the Dorchester State Bank in Dorchester, WI.
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