SRHS
Steamboat Rock Historical Society
100 YEARS OLD
CENTENNIAL 1855-1955
BANK FORFEITS OWNERSHIP
On April 21 1965, the Farmers Savings Bank was granted a federal bank charter to convert to a national bank and move the headquarters to Eldora, leaving a branch office in Steamboat Rock. This was done and the name changed to First National Bank. Officers at the time were Claus B. Janssen, president; Robert R. Ruppelt, vice president; Sam McHose vice president; Doris K. Ruppelt executive vice president; Roger Jensen, cashier and Anna Doolaard, assistant cashier with directors A.E. Luiken chairman of the board, Dr. W.G. Tietz and Chris Riggert.
In May, 1966 the stockholders of the bank purchased the former First Baptist Church building and lot in Eldora for the construction of a new bank building.
In February, 1967 the controlling interest in the bank was purchased by Roger Jensen with the following officers: Jansen, president; Claus B. Janssen and Doris K. Ruppelt, vice presidents; Anna Doolaard cashier and Wayne E. Norris, assistant cashier. The directors of the bank were Dr. W.G. Tietz, chairman of the board; A. J. Jansen, Carl Furricchi, A.P. Travisona, C.O. Rubow, A.E. Luiken and Claus B. Janssen.
The new building was completed in September, 1967 and the bank moved to their new location, on the southwest corner of the courthouse square in Eldora.
On October 5, 1973 the First National Bank was declared insolvent. A group headed by John Goodenow, a Wall Lake banker and Jack Pester, chairman of the board of Pester-Derby Oil Company, were successful bidders in assuming the deposit liabilities of the First National Bank. On October 9, 1973 the bank was reopened under the new name of Second National Bank.
In 1974, Dennis Wood was appointed president with Jerry Higgason executive vice president, Doris K. Ruppelt vice president, Judy McCarville, cashier.