Name/Title
History of The National Bank of WaupunDescription
History of The National Bank of Waupun, taken from an undated or usourced document.
THE NATIONAL BANK OF WAUPUN
Waupun, Wisconsin
Bank History Begins in 1876; Was Given Present Charter in 1905
Although The National Bank of Waupun was officially organized on September 1, 1905, history of the bank actually began in 1876. George Jess and his son, Stoddard Jess, came to Waupun from Fox Lake, Wisconsin and opened a private bank in a new, two story, brick building they had built at the corner of South Mill and Main Streets. George Jess and his son operated their private bank until 1885 when they sold their bank building to the First National Bank of Waupun whose charter authorized them to open for business on September 1, 1885. The organizers of the First National Bank of Waupun were George W. Mitchell and his son, G. Stanley Mitchell, and Henry E. Southwell, all of Milwaukee, Wisconsin and Edwin Hillyer and Lucius Hinkley of Waupun.
Safe deposit boxes were first installed in 1898, and in that year the first telephone was installed in the bank. Telephone charges were $2.00 monthly. The safe deposit boxes proved popular and additional boxes were installed the following year.
The bank building was expanded in 1904 and at that time an electric burglar alarm was installed. Ben Kastein, who entered the employ of the bank on November 1, 1897, as messenger boy and bookkeeper at a salary of $200.00 per year, was allowed to sleep at home nights after the burglar alarm was installed. Prior to that time he slept in the back room of the bank to save the expense of an additional night watchman.
When the National Bank Act was passed during Civil War days, charters were granted for 20 years only, so the charter issued the First National Bank on September 1, 1885, expired on September 1, 1905. Rather than ask for an extension of the charter, the officers decided to reorganize the bank. Many of the stockholders of the First National Bank were no longer residents of Waupun, and the officers felt that they would have no interest in the bank - only in the dividends earned by their stock. When an attempt to purchase the stock from out-of-town residents failed, the decision was made not to renew the charter and to organize a new bank.
ORGANIZE NEW BANK
The new organization was known as The National Bank of Waupun. All stock was sold to residents of Waupun or vicinity. The new bank purchased all the assets and assumed all the liabilities of the First National Bank, and stockholders were reimbursed at $134.50 per share. The organizers of The National Bank of Waupun were L. D. Hinkley, W. E. Caldwell, C. A. Shaler, C. E. Hooker, B. W. Davis, and Ben Kastein. There were approximately 74 stockholders when the new bank opened for business. Mr. Lucius Hinkley was name President of the bank.
In January, 1914, The National Bank of Waupun became a member of the Federal Reserve System. In April, 1929 a new ten-inch thick vault door was installed in the bank to protect the funds and valuables contained in their safe, and also the contents of the safe deposit boxes rented to its customers. The vault was also equipped with a sound wave burglar alarm system.
On September 28, 1928, E. W. Hooker was appointed as a director to succeed his father. W. E. Graham was named President succeeding C. E. Hooker. E. A. Marsh served as President from 1939 to 1941. E. W. Hooker served as President from 1941-1969.
Construction of the new bank building located at its current site was started on August 6, 1956. The move to the new building was completed on September 19, 1957 except for the vault door. The vault door installation was completed on September 25, 1957. The board of directors at the time the new bank was built included George Landaal, E. W. Hooker. George McBride,
Ben Kastein, Russell J. Kloosterboer, John Zeratsky, and J. G. Kastein. The new bank included a spacious lobby and much needed space for the Bookkeeping Department along with new, more efficient equipment for processing checks. Also included was storage space for supplies and records. New features included in the new modern bank included a drive-up window for fast service right from your car and also a new service for Main Street - the time clock - electronically!! Twenty-four hours daily!!
In 1969, J. G. Kastein was elected President. Leonard F. Beske was elected to the Board of Directors in 1960. Mr. Beske served the bank in a variety of capacities from June, 1941 until his retirement in 1988 at which time he continued to serve as Secretary to the Board of Directors until 1993.
In 1975, the bank was remodeled and additional office space was added. We expanded our Bookkeeping Department and added two additional drive-up lanes.
In October of 1979, The National Bank of Waupun introduced the world of electronic banking to the City by installing a 24 hour automated teller machine in the front of the bank. A second terminal was added in September of 1981 in the Waupun West Shopping Center.
Stephen E. Henderson served the bank as President from 1975 through 1992.
In 1993, D. K. Lemmenes was elected President to succeed S. E. Henderson. Dewey Lemmenes has been with The National Bank of Waupun since May of 1967. In February of 1999, The National Bank opened its first branch bank, Brandon Bank, in Brandon, Wisconsin. For the first six months, the bank was operated out of a temporary trailer facility. On November 1, 1999, the bank moved into the new building. On March 15, 2003, The National Bank purchased the Fairwater and Rosendale branches of M&I Bank and now operates out of four offices.
Present directors include J. G. Zeratsky, Michael D. Werner, Daniel VandeZande, Judson Werner, James VanderWerff, James Westphal, John Lauer, Barrie Tenpas, D. K. Lemmenes, David L. Hopp and Jerry O'Connor. Other current officers include David L. Hopp, Sr. Vice President and Cashier, Jerry O'Connor, Executive Vice President, Beverly J. Bosveld, Vice President, Sharon Bos, Vice President, Carole Westhuis, Assistant Vice President, Todd Fischer, Assistant Vice President, Sandra Armga, Personal Banker, Winifred Caramanidis, Personal Banker & Branch Manager, and Diane Hoinacki, Personal Banker & Branch Manager.Acquisition
Accession
2009.0401Source or Donor
Waupun Historical SocietyAcquisition Method
Bequest,Collected by
