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About Stockgrowers State Bank
Stockgrowers State Bank has been serving Wabaunsee county and the surrounding community since 1906. A look back through Stockgrowers’ history shows their commitment to the community and the people they serve.
Stockgrowers State Bank was the second bank formed in the city of Maple Hill and is a direct result of the first bank that was formed. The Maple Hill State Bank was opened in December of 1904 on the northwest corner of third and main streets. In 1906, 28 local investors, including several directors and investors of the Maple Hill State Bank, decided to open another bank due to their disapproval of some of the management practices of the Maple Hill State Bank. One newspaper article stated about the new Stockgrowers State Bank, “This bank will be one of the strongest country banking institutions in the state, as it is backed by men of unlimited capital and of wide and successful business experience.”
Organized in September of 1906, chartered October 3, 1906, and examined for the first time by the state banking commission on October 15, 1906, the actual opening date of Stockgrowers State Bank can not be found in any records that were examined. Local newspaper columns from that time period state that it opened the “2nd or 3rd week of October”. The state banking commissioner’s office said at that time a bank had to be examined before they could open for business. They also said it was not uncommon for a state bank examiner to arrive in town in the morning to examine a bank, and it would open for business that very afternoon.
Stockgrowers originally opened for business in the “Isham building” which is believed to have been located on Main Street in Maple Hill, with plans to build a new stone or brick building in the future. The original officers were Franklin Adams, president; J.N. Dolley, vice president; and JD Weaver, cashier. One feature of the by-laws adopted by Stockgrowers State Bank was that “the president, vice president, or cashiers will not be allowed to borrow the bank’s funds under any conditions”. One can only guess that might have been one of the management practices of the Maple Hill State Bank the 28 organizers of Stockgrowers State Bank were not happy about. In October of 1908 the bank building on the southwest corner of 3rd and main was completed and still is the current location to this day. The Maple Hill State Bank consolidated with Stockgrowers State Bank on December 31, 1909.
The Stockgrowers State Bank board decided to open a branch bank in Paxico in April of 1989. This was a big change since the town of Paxico had been without a bank since 1931. The Paxico branch bank moved into their current building on Main Street in December of 1999. A few years later in May of 2002, Stockgrowers State Bank purchased the Gold Bank branch in Alma. This doubled the deposits and number of loans for Stockgrowers. With the addition of the Alma branch, it gave Stockgrowers three bank locations for customers and also provided a few additional services.
Over the past 110 years there have been numerous changes in the financial industry. As counter checks are a thing of the past, new advances in technology allow for services such as online and mobile banking to exist. In 1906, who would have guessed that it would be possible to make a check deposit from a phone? Today this is a reality and just one of many services Stockgrowers is able to provide to customers. Along with online and mobile banking, Stockgrowers also offers debit cards, credit cards, a variety of checking and savings accounts, and various lending solutions for business, farm, personal and home needs.
Sources of information for this include, but are not necessarily limited to:
“The History Of The Maple Hill Banks”, 1977 by Bill Martin; The Kansas Bank Commissioner’s office; Alma Signal August 5, 1904; Alma Enterprise September 9, 1904; Alma Signal December 9, 1904; Alma Enterprise September 7, 1906; Alma Enterprise September 14, 1906; Alma Enterprise September 21, 1906; Alma Enterprise November 6, 1906; Alma Enterprise April 17, 1908; Alma Signal December 31, 1909; Alma Enterprise August 20, 1915; Wabaunsee County Register of Deeds Office; New Branches From Old Trees-A New History of Wabaunsee County, 1976; The Old Stone Church Cemetery, & local history experts.