History of the Lowell National Bank

	1906	1915

(From the Lowell Tribune of April 23, 1903):

OUR NEW BANK

The stockholders of the Lowell National Bank met last Thursday night and organized by the election of the following board of directors; F. E. Nelson, C.E. Nichols, Henry Surprise, George B. Bailey, George M. Death.

The board of directors proceeded to organize by electing the following officers:

President -- F. E. Nelson
Vice President -- George B. Bailey
Cashier -- Peter A. Berg

The following is the list of stockholders; F.E. Nelson, C.E. Nichols, Henry Surprise, Geo. M. Death, Geo. B. Bailey, William Love, P.A. Berg, Thomas Grant, James Black, Ruge Brothers, J.E. Caster, E.T. Boyle, Wheeler J. Nichols.

The association has bought the Carrie Sanger property on the south side of Commercial Ave. and is now occupied by G.W. Helig and will elect a fine modern banking building thereon. The gentlemen of the association are all honorable and highly respected businessmen, who have the confidence of our people.

On May 14, 1903, the Lowell National Bank opened for business. According to the Tribune of that date, farmers were complaining of the hardness of the ground, everyone was worried about smallpox, and Frank Maloy (a present stockholder of the bank) had just arrived to take over as station agent for the Monon. Since the present bank building was not completed, the bank opened in what is now part of Clayton Randolph's garage. Deposits for the day were $3884.60, with total resources of $21,209.85.

Mr. Nelson served as president of the bank from 1903-1907; and after his retirement George Bailey became president and held that office until his death in 1948. Thomas Purchase was then elected president and served from 1948 to 1950. After his death, George Foster was elected president, which office he now holds.

Three Cashiers Since 1903

The Lowell National Bank has had three cashiers; Peter Berg was cashier from 1903 until his death in 1941; George Foster from 1941-50, and Harold Love has been cashier from that time. Mr. Foster has been with the bank since 1908, Mr. Love since 1920. Another old-timer in point of service is Victor K. Roberts who has been attorney for the bank since 1912.

Besides the contributions of the men mentioned above, some of the others who as directors and employees have helped in the past growth of the bank are: B.H. Wood, Elmer Hayden, Edwin J. Pixley, Albert Surprise, Dr.J.W. Iddings, Emil H. Ruge, Mary E. Nichols, and George Einsele.

The present officers of the bank are: George L, Foster, president; Vernon Ruge, vice-president; Harold W. Love, cashier; Catherine H. Parry, assistant cashier; Robert Hein, assistant cashier. Directors are Jasper Surprise, Arleigh LaMotte, Sheridan Ruge, John Miller, Huron Ruge, George Foster and Vernon Ruge. Victor K. Roberts is the bank's attorney. Working with the officers of the bank are Georgene Schmal, Betty Atkinson, Eleanor Franke, Delores Genge, Anna Mary Kelsey and Lee Hayden.

Five Million Resources

The growth of the bank was constant and resources were almost at the million mark by 1930. As the depression swept the county, resources gradually dwindled to half a million in 1933. Since that time, growth has been steady. Resources hit the million mark in 1939; 2 million in 1943; 3 million in 1945; 4 million in 1946; 5 million in July of 1952. The bank has grown as much during the past six weeks as it grew in its first fifteen years of business. The institution is housed in a modern, air-conditioned building on Commercial Ave.

The growth has been possible not only because the officers and directors have tried from the very start to do a fair and consistent job of banking for the community, but because this is a good community! Throughout its 49 years the growth of the Lowell National Bank has been built on the friendship of the farmers and businessmen not only of Lowell, but of Cedar Lake, Lake Village, Schneider, Shelby and Thayer.