About Us

HISTORY OF BANKING IN JANESVILLE

Whipple & Hill, with C. H. Whipple, J.W. Hill, and W.S. Hill as co-owners, operated the first bank in Janesville. In November of 1878, the Hill Brothers became the bank’s sole owners. On July 6, 1885, the “Bank of Janesville,” operated by G. R. Buckman, was sold to the Jennison Bros. This bank, a part of the Jennison Bros. Milling Co., later became known as “The Janesville Bank” and operated out of the building just north of the current Janesville Argus building. In 1894 The Janesville Bank constructed and moved across the street into the current Ms Mac’s Antiques building on the corner across from the Post office.
On September 1, 1898, the Waseca County Bank opened for business with James Slocum serving as its President with A. M. Slocum, Emil Dieudonne, John Finley, R.O. Craig, J.O. Chandler, and H.C. Chase as stockholders. The bank was located in part of the building then operated as the Jensen garage. This building later housed Minnegasco and is located adjacent to the current Shirley’s Beauty Boutique on South Main Street. On January 31, 1908, the Waseca County Bank and the Janesville Bank merged to form the Janesville State Bank with the merged bank located in the Janesville Bank’s building.

In other banking news in Janesville in 1908, the Citizens State Bank opened for business in the building vacated earlier that year by the Waseca County Bank. James J. Sullivan served as President. In 1926, Citizens State Bank erected a new building on the corner of Main and First Streets, where the current Janesville State Bank is located. The building was formally opened in 1927. The Citizens State Bank closed in April, 1933, as a result of the Depression. In 1936, the Janesville State Bank purchased and relocated to the former Citizens State Bank building.

While the building at 201 N. Main continues to be operated by the Janesville State Bank, many changes have taken place since 1936. In 1956 the Janesville Insurance Agency was added to the bank. In 1958, the interior of the building was remodeled with bandit barriers removed from in front of the tellers and replaced with modern teller units and a night depository was also added to the building. In 1969, the bank began processing checks and deposits by computer. In 1971 and 1973, the Janesville State Bank purchased Ella’s Log Cabin and the Village Diner restaurant buildings located to its north. In 1974 the bank went through a major remodeling and expansion north, nearly doubling the square footage of the building and adding an auto drive-up facility. In 1983, Janesville State Bank purchased its own computer to run the entire bank operation. In 1992, the bank completed a large addition onto the east side of the building, relocating the Janesville Insurance Agency from the front of the bank. Also in 1992, a second lane was added to the auto drive-up facility. Then in April of 1996, the bank installed two automated teller machines (ATM) located at Budget Mart and Expressway convenience stores and added telephone banking and debit card services for the convenience of our customers.

Since its charter in 1898, the Janesville State Bank (formerly the Waseca County Bank) has operated continuously and dependably. The Janesville State Bank is proud to have played a part in the history and growth of Janesville and continues to play a major role in helping to “Build a Better Janesville.”

Bank Presidents over the years have been:
James Slocum 1898 - 1907 Waseca County Bank / The Janesville Bank
John Finley 1908 - 1920 Janesville State Bank
Nels Nyquist 1921 - 1923
John M. Murphy 1924 - 1938
Dr. L. W. Scott 1939 - 1958
Herbert A. Finley 1959 - 1964
John J. Scott 1965 - 1975
Joseph M. Finley 1976 - 1991
Michael J. Finley 1992

HISTORY OF JANESVILLE

In 1854, Father La Valdo called it Peopolis; others later called it Ike Terrill Trading Post. Then in 1856, Caesar De Regan, a Frenchman, laid out a town site on the southwest shore of Lake Elysian which at first he called St. Caesar’s but later changed to New Albany. Later that same year J. W. Hosmer came from Wisconsin and located at the foot of Lake Elysian. He bought a half-interest in the town site from De Regan, renaming the town Janesville after his hometown in Wisconsin. The original site of Janesville is marked by an 1856 monument located approximately ½ mile west of current Janesville on West Elysian Lake Road.

In 1858, Janesville officially separated from Okaman, which was a village on the northeast shore of Lake Elysian. In those days, the “Silver Spray” barge ferried people and products from Okaman across the lake to Janesville, running back and forth from Okaman by horsepower. When the Winona and St. Peter Railroad went south of the Janesville site in 1869, many of the inhabitants of both Okaman and Old Janesville picked up, buildings and all, and moved to the current site ½ mile to the east. Janesville became Old Janesville, while the new site became East Janesville and later, Janesville. The new village was incorporated in 1870.

Janesville in its infancy was one of the fastest-growing villages in the State of Minnesota, with a population of 500. By 1885, the village was booming with a population of 1,000. Unfortunately, on Tuesday, April 12, 1887, a fire, aided by strong winds, destroyed most of the wooden village in just two hours, leaving 100 people homeless and causing $46,000 in damages. Rebounding in the 1890s, Janesville began drawing crowds of 10,000 to 12,000 in September for what was called the “Janesville Street Fair.” Street Fair visitors were welcomed to Janesville by an arch that extended across Main Street and was made of cereals and produce from local farms. The annual celebration continues today with “Hay Daze,” renamed in 1960 and celebrated each June. The City of Janesville will celebrate its Sesquicentennial or 150th birthday with a variety of events during 2006.