Past Presidents of the State Bank of Lismore
Federal Visable adding machine
Antique bank equipment used
in the early 1900's
The first officers of the bank included President, Emil Graf Sr. who served from November 19, 1900 to November 20, 1912; Vice President, Charles R. Rieckhoff; and Cashier, A.J. Rice. The Board of Directors were A.J. Rice, James S. Ramage, Emil Graf Sr., Charles Mylius and Charles R. Rieckhoff.. On the 9th of March 1901, the bank had capital stock of $15,000 and deposits were $16,500.
At the annual stockholders meeting on November 18, 1908 it was voted to erect a new building. Some of the stockholders present were Emil Graf, J.C. Graf, A.J. Rice, Fred Pank, Allen E. Higgins, E. Brickson, and C. Koslund. In 1910 the bank moved into it’s new brick building, a two-story structure 25 x 50 feet, with a full basement.
In November 1912, A.J. Rice was elected President with E. Brickson as Vice President and F.J. Forkenbrock as Cashier. On May 14, 1913 the capital stock was recorded at $25,000, surplus $5,100 and deposits of approximately $146,000. In May 1914 L.A. Loosbrock was elected Assistant Cashier.
The State Bank of Lismore celebrated it’s 25th year of faithful service to the people of Lismore and the surrounding vicinity on December 1, 1925. At that time the capital stock was at $25,000 with surplus and undivided profits $7,000 and deposits totaling approximately $33,000. The bank grew through good and bad times, and ranked fifth largest in the County in 1925.
On June 21, 1923 R.R. Sell was elected Assistant Cashier and A.J. Rice continued to serve as President of the bank until his death on August 4, 1939. After the death of A.J. Rice, the bank continued to enjoy growth under the newly elected President, L.A. Loosbrock.
Leo A. Loosbrock was born July 27, 1892 in Dyersville, Iowa. He was the son of Mr. & Mrs. John A. Loosbrock who later settled in the St. Kilian area around 1904. After finishing school in Dyersville, Leo attended business college in Dubuque Iowa. Among his varied interests were the Lismore Cooperative Telephone Company of which he was secretary, and the Wilmont Fire Insurance Company where he served as secretary. Leo married Clara Hebig on June 26, 1917 in St. Kilian. He and Clara had five children: Marvin, Balyon, Dulcee, Thomas and Marilyn. Marvin T. joined his father in the banking business in 1937. After thirty years of service in the State Bank of Lismore Leo A. Loosbrock died July 8, 1942 at the age of 49 after a year long battle with cancer.