National Exchange Bank & Trust
National Exchange Bank & Trust
Fond du Lac, WI
National Exchange Bank has been a pillar of stability in the Fond du Lac Community since it first opened its doors on December 20, 1933, with assets of $1,693,000. The organizers of the Bank had to overcome a number of obstacles to obtain enough stock to meet government requirements at the time. Since many banks had failed during the depression years, convincing the public to invest in bank stock wasn't easy.
William Mauthe, President of Northern Casket Company was named the Bank's first president, although he served in a non-active capacity. Mr. Mauthe was a successful businessman, well respected both inside and outside the Fond du Lac Community. His role, although inactive, was to project confidence to the public to purchase stock. Many of the Bank's initial customers were prior customers of the Commercial National Bank, which had been previously liquidated. These depositors received more than 90 cents on the dollar when Commercial National Bank liquidated and many invested these funds with the National Exchange Bank. National Exchange, to help convince the public that the Bank had money on hand, displayed stacks of currency throughout the Bank and hired three or four police officers to stand guard.
The first active president of the Bank was John P. Kalt. Under the leadership of Mr. Kalt the Bank grew, and by 1943 assets had risen to over $5 million. As assets continued to climb, so did National Exchange Bank's influence in the community. As the banking industry evolved, National Exchange continued to be a leader in providing new products and additional services to its customers as their needs changed.
Other presidents of the Bank included, William A. Sanders, Herbert W. Niederehe, Peter E. Stone, and at present Michael L. Burch. The Bank's Board of Directors has always included many of the community's business leaders.
On January 22, 1968, National Exchange Bank moved to its present location at 130 South Main Street. The new facility offered customers a fully modernized banking environment.
National Exchange Bank Corporation, a holding company for National Exchange Bank and American Bank, was formed in April 1974.
In 1975, a Trust Department was added to serve the expanded financial needs of the area. It was at this time that the Bank's name was changed to National Exchange Bank and Trust. Assets of the Bank and the Trust Department continued to grow, reflecting the confidence of the community. Growth in products and services resulted in a tremendous increase in assets, rising from $52.5 million in 1973 to over $260 million in early 1991.
A senior citizen program was created in the early '70s and has since offered many desirable products to the community's senior citizens. A travel club, which allowed many senior citizens an opportunity to travel, has been extremely popular since its addition. In 1977, because it was outgrowing its available space, National Exchange Bank added a separate drive-up facility and a large addition to the main bank. National Exchange Bank was the first in the community to offer walk-up/drive-up service, and in the late 1980's; it was the first financial institution in Fond du Lac County to offer customers the biweekly mortgage loan. Other additions included TYME services and a full service brokerage department.
The Bank's growth continued in 1989 when the Mt. Calvary State Bank was purchased and immediately offered its customers the full range of bank products available through National Exchange.
In October 1991, a new office was opened in Campbellsport to meet the needs of the residents of the rapidly growing Kettle Moraine area. The Bank's growth continued with the acquisition of the State Bank of Cascade in the spring of 1993. The Cascade bank had assets of $14 million.
In the summer of 1994, Dale G. Brooks, President of NEB Corporation announced that an agreement had been reached to purchase four branch offices from Marshall & Ilsley Corporation. Combined deposits of the four branch offices totaled approximately $27 million. Two of the offices, one located in Marytown and the other in Glenbeulah, became a part of National Exchange Bank, while the other two located in Brownsville and Knowles became a part of American Bank.
1995 saw the Bank expand its customer base with the construction of a new office in West Bend and the acquisition of four offices in Sheboygan County. The 6500 square foot facility in West Bend moved the Bank into the county seat of Washington County and the progressive surrounding communities in the area. Beginning with 7 employees, the Bank eagerly began meeting the financial needs of area residents and businesses.
At the same time, NEB Corporation acquired the Bank of Elkhart Lake with locations in Elkhart Lake and Sheboygan Falls and the Adell State Bank with locations in Adell and Cedar Grove. The banks had combined total assets in excess of $40 million increasing National Exchange Bank's assets to approximately $425 million.
A second office in the city of Fond du Lac was opened in August of 1997. After the city constructed a new fire station on South Main Street, National Exchange Bank acquired the vacated station on North Main. The area of the building that housed the fire trucks was converted into a drive-up with three lanes and the possibility of more later. A portion of the interior was converted into a lobby with several teller windows and an area where new accounts and other customer service functions take place.
In 1998, the Bank acquired the former Bank One building in Eden. After completing some minor remodeling, the doors were opened for business in December. With this addition, National Exchange Bank served the commercial and consumer banking needs from 13 locations.
That same year NEBAT opened a "virtual office" and continued its tradition as a leader in the industry with the introduction of Exchange OnLine, an Internet banking product. This service gave customers the convenience of managing their accounts from the comfort of their home or office including monitoring account transactions, reconciling accounts, running reports, transferring funds and paying bills.
In May 1999, National Exchange Bank added four more offices acquired from Bank One Corporation. This moved National Exchange toward the west and gave the Bank a presence in Dodge and Columbia counties. Offices in Cambria, Pardeeville, and Randolph added 20 employees. In addition, a second office in Campbellsport contributed a staff of 10 and additional space to serve the financial needs of the growing community. Plans to combine the two Campbellsport offices and staffs are in progress. These four additional offices added $97 million to National Exchange Bank's assets bringing it total assets to more than $617 million.
The previous expansion into the West Bend community proved to be a great asset to the Bank, and National Exchange Bank & Trust increased its presence in the area with the opening of a second office in January 2000. The newest location on West Washington Street provided existing customers with the convenience of two West Bend locations and brought the bank closer to the residents on the northwest side of the community. The office is located in a portion of a building that had been vacated by Bank One Corporation and was remodeled to create an up-dated, comfortable banking atmosphere.
National Exchange Bank and Trust has prospered in the community through the efforts of dedicated employees and sound management. Since its inception in 1933, National Exchange has been at the side of consumers to help them prosper and has assisted small and large businesses to reach their goals to help mold a solid community. Always a friend of education and the numerous organizations throughout the community, the Bank has been most generous in its support.
From an institution displaying stacks of money throughout its lobby in 1933 to becoming one of the largest, independent financial institutions in the state of Wisconsin, National Exchange Bank and Trust, with more than 200 employees, prides itself not in being the largest but the friendliest.
Employee benefits include:
- Medical Insurance
- Dental Insurance
- 401(k)
- Life Insurance
- Accidental Death and Dismemberment Insurance
- Employee Checking Account
- Employee Savings Account
- Safe Deposit Box
- Long Term Disability Insurance
- Short Term Disability Insurance
- Flexible Spending Account
- Dependant Care Account
- Paid Vacation Days
- Paid Sick Days
- Paid Holidays
- Preferential Loan Rates
- Employee Events
- Funeral Leave
For more information on National Exchange Bank & Trust, please contact:
Human Resources
National Exchange Bank & Trust
130 South Main Street
PO Box 988
Fond du Lac, WI 54936-0988
Phone: 920-921-7700
Fax: 920-923-7021
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