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By Charlie Warner
Argus News Editor
Loyal customers who have a very good work ethic, as well as a very dedicated staff are reasons why both Ron Chamberlin and Don Meiners feel the Eitzen State Bank has been able to not only survive the ups and downs of the past century, but has been able to prosper. The Eitzen State Bank, with offices in both Eitzen and Caledonia, will be celebrating 100 years in the banking business this Friday, Oct. 9 from 3 to 6 p.m. at both locations.
Both Chamberlin, who has served as the bank president since 1993 and Meiners, who has been affiliated with the bank from 1960 to 2007 spent last Friday sifting through the many old photos and newspaper articles that chronicled the bank’s century-old existence.
The original Eitzen State Bank, above, was built in 1909. Located on 100 West Main Street, it now serves as Eitzen’s post office.
The bank opened for business on Jan. 2, 1909. Bank President was W.F. Deters. F.H. Fruechte was the only other employee and served as the cashier. The original bank was in the building that now serves as Eitzen’s post office.
In 1911 one bank board director was hired to “help out” if the cashier had to be gone. The director’s wage was $15 a year.
The history of the bank also indicated that in 1911 $200 was set aside in case of bad loans.
In 1922 the board approved the hiring of a “helper for a month or so during the Christmas holiday season.”
Indoor plumbing arrived in 1929 when a toilet and sink were installed in the bank building. That same year, the board made contingency plans just in case electricity came to Eitzen. It was a number of years before that happened.
The cashier and assistant cashier’s salaries were cut in 1932, due to the Great Depression and “hard times.”
In 1932, H.H. Fruechte was elected bank president.
The bank applied for and was accepted in the FDIC fund in 1933.
In 1936 the bank board discussed a recent bank robbery and also what types of burglar alarms could be installed.
Two years later security lights and a burglar alarm were added.
In 1944 the bank started offering U.S. savings Bonds.
In 1948 H.E. Deters was elected president.
Safety deposit boxes that could be rented for $1 per year, were offered to customers.
In 1958 a 360 square-foot addition was built, which housed a new vault, a furnace room and a new restroom.
Don Meiners joined the bank in 1960 and worked as a bookkeeper/teller. He and Deters were the only two full-time employees at the bank in 1960. Meiners moved up to cashier and then was elected president in 1977.
The new bank building was constructed in 1974.
In 1993 Ron Chamberlin purchased the bank from Meiners and was elected president.
Meiners remained on the board of directors until 2007, serving a total of 47 years at various capacities.
Eitzen State Bank bought out the Staggemeyer and Wagner insurance agencies in 2002 and established a branch office in Caledonia in 2004.
A large addition and remodeling project which doubled the floor space of the bank building at 108 Iowa Ave. was completed in 2007.
Between the two offices in Eitzen and Caledonia, Eitzen State Bank employs 15 persons, including five loan officers and three insurance persons.
“We’re primarily an agriculture bank, with about half of our customers living in Iowa,” Chamberlin noted. “We service an area about 20 miles around Eitzen.”
Chamberlin noted establishing the bank in Caledonia five years ago was to make it more convenient for their Caledonia customers.
“We had a lot of customers from Caledonia before we set up the branch office there,” Chamberlin said. “But this just made it easier for them.”
There aren’t many independent small town banks left, and the Eitzen State Bank is certainly both. Chamberlin attributes that to the great customer base and his 15 employees.
“All of our employees are local. They know our customers because they live right here with them. We have great employees and have had very little turnover.”
The open house will include giving out 10 $100 cash prizes. Persons can register at either bank location.
“We’re inviting everyone to come out for our open house,” Chamberlin said. “This is a chance for us to thank our customers and celebrate our first 100 years serving the area.”
You can contact Charlie Warner at
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