History of the Bank of St. Elizabeth

Click a date to read about an important milestone in the bank's history.

The 1910s The 1920s The 1930s The 1940s The 1950s
November 11, 1913 March 17, 1924 January 16, 1932 January 20, 1941 February 21, 1955
November 29, 1913 April 18, 1927 June 20, 1932 July 31, 1941 September 15, 1955
December 13, 1913   January 16, 1933 May 18, 1942 October 27, 1956
January 2, 1914   May 20, 1935 June 21, 1943  
January 12, 1914   August 23, 1935 July 7, 1943  
January 26,1914     September 1, 1945  
July 17, 1916        
February 13, 1919        
November 17, 1919        


The 1960s The 1970s The 1980s The 1990s The 2000s
March 21, 1968 March 18, 1971 January 15, 1981 March 16, 1990 November 9, 2006
  December 5, 1971 December 15, 1983 November 20, 1991 December 4, 2006
  October 19, 1972 October 17, 1985 November 19, 1992 April 16, 2010
  January 2, 1973 January 15, 1987 March 17, 1994 August 1, 2011
  June 3, 1973 July 16, 1987 November 20, 1995 August 17, 2012
  January 20, 1977 December 1, 1988 October 16, 1997 August 25, 2012
  November 17, 1977   January 15, 1998 January 2, 2014
      February 18, 1999 January 12, 2014
        April 5, 2014
        May 3, 2014
        June 7, 2014
         
         
         
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11-11-1913

Town meeting in St. Elizabeth to discuss plans for founding a bank. John G. Schwietermann was elected President and Stephen Doerhoff, Secretary for the meeting. Everyone there emphasized the practicality and need to have a bank in this town. It was decided that the initial capital amount would be $10,000; $2,200 was pledged at the meeting

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11-29-1913

Stockholders meeting – elected Directors and adopted bylaws

  • John G. Schwietermann – Chairman, Vice President
  • William M. Wetlock, Sr. - President
  • Edward B. Hickmann – CEO/Cashier/Secretary
  • H. H. Barnhart
  • Frank H. Bax
  • Henry E. Clark
  • Joseph F. Huhmann
  • A. T. Shelton
  • J. B. Wilbers

Organizational meeting – appointed Officers and hired E. B. Hickman as the lone employee (Cashier)

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12-13-1913

Agreed to the offer by E. B. Hickman of a salary of $50 per month

Approved renting the ‘Old Store Room’ in the William Wetlock building for $5 per month

Approved purchase of a (Victor Manganese Steel Screw Door Bank Safe) cash safe for $900.00 and book safe for $150.00. (Burglars would use a cutting torch to burn a hole in it on 2-5-1963 and ruin it)

Approved The Farmers and Merchants Bank of Meta, MO and The National Bank of Commerce, St. Louis, MO as the first correspondent banks

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1-2-1914

Bank officially chartered to do business by the State of Missouri

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1-12-1914

First official day of business.

Rate to loan money at 6% on real estate loans and 7% on others, to pay 4% on Time deposits and 3% on sums of $400 or over on Daily Balances

Close of business on the first day showed: $8,000 in capital stock, $2,406.46 in deposits, and total assets of $10,407.76. The authorized amount of Capital stock of $10,000, was not fully paid up until 8-15-1914

First CD was for $75.00

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1-26-1914

First loan made for $195.00

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7-17-1916

Building plans drawn by John G. Schwietermann

Approved construction of bank building

Building committee appointed

Bought 30’ x 60’ lot from S. N. Schell & Sons for $300

Leo Kemna to haul gravel for 75 cents/cwt

Paid Bernie Oligschlaeger 7.5 cent/load to haul gravel through his field

Paid John Wilde 8 cents per block laid

Paid 9 cents per bag of concrete from Hoecker (current river access)

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2-13-1919

CEO/Cashier Edward B. Hickman resigned as Cashier, and recommended John A. Luetkemeyer to be hired as CEO/Cashier, which the Board did

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11-17-1919

Approved $200 investment in Delco-Light Company to get lights in town

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3-17-1924

Approved donation of $100 for construction of wire suspension bridge across the Big Tavern Creek at the Boeckmann Ford

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4-18-1927

Made loan to Henry Boeckmann on ferry boat

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1-16-1932

Salaries of John Luetkemeyer and Ida Bode were reduced 25% due to the hard times of the Great Depression

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6-20-1932

Authorized releases on deed of trust that the Bank holds, to MO State Highway Department for the purpose of a Farm-to-Market Road leading from Tuscumbia to St. Elizabeth

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1-16-1933

Salaries reduced by another 33%

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5-20-1935

Researched about obtaining an electrical burglary alarm

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8-23-1935

Received FDIC deposit insurance certificate

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1-20-1941

Hired Wm. A. Luetkemeyer – Assistant Cashier

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7-31-1941

CEO/Cashier John A. Luetkemeyer died

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5-18-1942

Cashier Wm. A. Luetkemeyer inducted into the Army, replaced on a temporary basis by the hiring of W. F. Topping of Stoutland, MO

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6-21-1943

W. F. Topping, Cashier resigned to take a similar position at the Citizens Bank of Pilot Grove.

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7-7-1943

Hired Otto G. Schell as Cashier on a temporary basis

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9-1-1945

Excused Otto G. Schell of Cashier duties and rehired Wm. A. Luetkemeyer, as he has returned from his Armed Services duty

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2-21-1955

Approved $50 contribution towards the construction of a new church in St. Anthony

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9-15-1955

Approved $35 contribution towards black-topping some of the city’s streets

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10-27-1956

Purchased a micro-film machine

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3-21-1968

Bank purchased a lot from Victor Wilde (also known as the George Kemna property which was also the first location of Schell Trading Company and the Bank’s first location) for a future building site.

Approved an FHA loan/deposit for the construction of the town’s water system

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3-18-1971

Started construction of new building

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12-5-1971

Open house of new bank building

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10-19-1972

Purchased lot in Marys Home for new facility

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1-2-1973

Sold old bank building to Victor Wilde

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6-3-1973

Open house at new Marys Home facility, open for business 6-4-1973

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1-20-1977

Purchased a computer

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11-17-1977

Approved helping pay rent for a Doctor if we could get one to St. Elizabeth

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1-15-1981

Approved purchase of Burroughs Posting Machine

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12-15-1983

Raised passbook interest rate to 5.5%

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10-17-1985

Approved purchase of new proof machine and computer

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1-15-1987

Approved plans for an addition to building in St Elizabeth

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7-16-1987

Building additions complete

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12-1-1988

Hired Brice Luetkemeyer as Cashier, promoted Blaine Luetkemeyer to VP

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3-16-1990

Approved donation of $4,500 for new scoreboard in gym

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11-20-1991

Lowered interest rates on all existing real estate and livestock notes to 11%, left rates on personal loans at 14%

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11-19-1992

Approved purchase of new computer, proof, and optical image system

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3-17-1994

Approved purchase of James Heckemeyer house, behind bank, for future expansion

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11-20-1995

Received approval to purchase Oligschlaeger house (east of bank – currently parking lot)

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10-16-1997

Approved purchasing new proof machine with imaging technology

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1-15-1998

Approved purchase of new IBM mainframe & software that’s Y2k compliant

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2-18-1999

Approved another addition to the bank building (current loan area)

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11-9-2006

Tender offer accepted by all 95 shareholders of the Bank of Freeburg for stock purchase

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12-4-2006

IT conversion/merger with Bank of Freeburg completed

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4-16-2010

Wm. A. Luetkemeyer, long time Chairman, President and CEO dies

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8-1-11

Started addition and renovation of St E building

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8-17-2012

Extensive discussion of the horrible drought and the resulting effects

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8-25-2012

Open house for new addition and renovation on St. E building

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1-2-14

Bank Chartered 100 Years Ago

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1-12-14

Bank Opened for Business 100 years Ago

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4-5-14

100th Anniversary Celebration at Marys Home

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5-3-14

100th Anniversary Celebration at Freeburg

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6-7-14

100th Anniversary Celebration at St. Elizabeth

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