Danville Bank to celebrate 125 years

Danville State Savings Bank will mark its 125th anniversary on Friday, Aug. 30 from 5 p.m. to 7 p.m. with a barbecue for its customers and friends in the Danville (Iowa) City Park.

A group of progressive citizens organized the Danville State Savings Bank in 1899 and it was incorporated on Nov. 26 of that year. W.M. Irwin was appointed cashier and the first board of directors consisted of W.H. Hurlbut, President; D.W. McKee, Vice President; B.W. Shepherd, George F. Giese, George Nau, J.H. Dodds and A.P. Caldwell.

In 1921, the bank building, located on the east side of Danville’s current Main Street, was destroyed by fire; however, the safe remained intact. After several days, the safe had cooled and was opened. Bankers Woods, Irwin and Ray Mix set up business in the house of Irwin’s mother-in-law, Mrs. Ebenezer Cady. The safe was left in the fire ruins and each evening the books were placed in it and a guard was set over it.

The bank was rebuilt on the same site, but the Great Depression required the operation of the bank to change drastically, as did all banks throughout the nation. After the passing of the Banking Act of 1933, all bank stock was called in and 1,000 shares of new stock were sold at $25 per share. During this time, Dale Kelley was cashier.

Fast forward to Jan. 10, 1969, when the bank was robbed at gunpoint in a daylight heist in which the robbers obtained $20,500. That remains a cold case to this day.

In November 1972, the bank moved into its newly constructed — and current — building across the street from the old bank. And in 1998, Danville Bank moved their charter and built an office in New London, Iowa.

Danville Bank has purchased three insurance agencies in its history, Bob Dodds Insurance Agency in Danville, Eland Insurance Agency in Mediapolis and Earnest Insurance Agency in Wapello.

In 2020, the current Danville Bank building was remodeled during the COVID crisis when “in-person” banking was temporarily suspended for a few months while the country recovered from the health scare.

Danville State Savings Bank has grown substantially since its inception 125 years ago but continues to serve its customers at the highest level. The Bank is owned by the Danville Bancshares Corporation with its shareholders being local families from the Southeast Iowa area. Current President, Joel Prottsman, oversees a staff of 43 full and part-time employees.