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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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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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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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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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Bank officially chartered to do business by the State of Missouri

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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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First loan made for $195.00

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

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

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Made loan to Henry Boeckmann on ferry boat

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

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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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Salaries reduced by another 33%

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Researched about obtaining an electrical burglary alarm

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Received FDIC deposit insurance certificate

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Hired Wm. A. Luetkemeyer – Assistant Cashier

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CEO/Cashier John A. Luetkemeyer died

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

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Hired Otto G. Schell as Cashier on a temporary basis

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

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

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Purchased a micro-film machine

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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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Started construction of new building

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Open house of new bank building

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Purchased lot in Marys Home for new facility

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Sold old bank building to Victor Wilde

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

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Purchased a computer

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

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Approved purchase of Burroughs Posting Machine

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Raised passbook interest rate to 5.5%

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Approved purchase of new proof machine and computer

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Approved plans for an addition to building in St Elizabeth

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Building additions complete

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Hired Brice Luetkemeyer as Cashier, promoted Blaine Luetkemeyer to VP

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

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

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

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

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

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Approved purchasing new proof machine with imaging technology

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

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

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

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IT conversion/merger with Bank of Freeburg completed

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

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Started addition and renovation of St E building

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Extensive discussion of the horrible drought and the resulting effects

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

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Bank Chartered 100 Years Ago

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Bank Opened for Business 100 years Ago

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100th Anniversary Celebration at Marys Home

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100th Anniversary Celebration at Freeburg

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100th Anniversary Celebration at St. Elizabeth

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