Mound City Bank… Celebrating 100 Years
100 Year Video narrative
Craig Trongaard - Chairman of the Board of Mound City Bank
Hi, I’m Craig Trongaard, Chairman of the Board of Mound City Bank. It is with great pride that our
independent community bank, celebrating our 100 year anniversary. Mound City Bank has contributed
to the rich heritage of our market area. Throughout this last century, our bank has been blessed with
many dedicated board members & talented employees. They have embraced our motto- “Proud to be
Here For You”, by genuinely providing premier financial solutions to partner with customers in pursuit of
their financial dreams- whether it be to purchase a new home, a new vehicle, farmland, or to start a new
business venture. You & your ancestors have played key roles in our history, as shareholders,
employees, or as valued customers. And so, it is my pleasure to present… MOUND CITY BANK…
Celebrating 100 Years
Donna Hoppenjan – Current President & CEO of Mound City Bank
It is truly an honor for me to escort you on this historic journey. I’m Donna Hoppenjan, currently serving
as your 9th President & CEO. I can remember my Dad taking me as a little girl to MCB on Main Street- to
deposit my $ into my savings passbook. Little did I know then, that I would begin as a teller serving MCB
for the next 38 years in various roles & be named President & CEO in 2013. My passion & support of
Mound City Bank is as strong as my great-grandfather’s was in 1915 when he took a financial risk as 1 of
our founders...
The 1st recorded meeting was held at City Hall on January 4th, 1915 with Directors Johnson Paynter
Rundell, George Riter, R. F. Mates, Samuel Arthur, Peter Johns, D. R. Muilman, W. F. Knebel, W. C. Hill,
Albert Edwin Rundell, Dr. R.S. Heer & John Burris, Sr. This courageous group of men then visited
proposed sites & determined that the seed of this new business would be planted inside the landmark
structure, once known as the Platteville Lumber & Fuel Building, located at 15 East Main Street in
Platteville for $60 per month rent. According to its By-Laws, the bank would be named Mound City
State Bank & would be open for business from 9am to 4pm, every day except Sunday & legal holidays.
At a special Stockholder meeting on February 10, 1915, highly attended with 361 of the 500 shares
represented in person, the sole purpose of this meeting was to amend the By-Laws to change the name
of the bank, before it opened, by removing the word “State” & changing the bank’s name to Mound City
Bank, named after Platteville’s famous mound.
To put 1915 in some perspective, the 1st US soldier to die in World War I is mortally wounded the day
before the bank opened. A gallon of milk was $.36 & a stamp cost $.02. Babe Ruth hits his 1st career
home run!
Mound City Bank opened its doors for business as a state-chartered bank on February 18, 1915 at 9am
proudly offering a full line of Safety Deposit Boxes. It was a community owned bank from its humble
beginnings with 114 founding shareholders raising $50,000 in capital & according to the by-laws, you
were limited to owning no more than 15 shares a piece.
Mound City Bank was established for farmers & mine workers to have a safe place for their money, thus
known as the Safe, Sound & Conservative Bank in town. The founders of the bank mirrored the 4500
residents of the City of Platteville, representing farming & business interests. Their fierce independence
& commitment to community continues to remain the cornerstone of the bank’s philosophy even today,
100 years later.
Bank financing was a vital necessity to stimulate growth. With total assets of $55,015.09, President
Johnson Paynter Rundell, Cashier Hal Murley & Asst. Cashier Harley Riter set their goals on meeting
these lending needs by providing short-term unsecured credit to small business & the agricultural
community growing the bank to $111,194 by the end of 1915.
1 year later, Directors approved that no salary be paid to the President for the ensuing year. Directors
also voted to elect Albert Edwin Rundell, JP’s nephew, to serve as the bank’s 2nd President. The board
approved paying 4% on 12 month deposits- wouldn’t you like to get that rate today on your 12 month
CD in our current low rate environment?
A major location change came in 1917 when Mound City Bank relocated to 55 E. Main Street. W. F.
Knebel was elected President from 1925 to 1928. In 1929, when William Hill was elected President, the
US economy was faltering. In March 1929, the Dow Jones Industrial Average dropped for the first time
since 1922. Uncertainty caused the Federal Reserve Bank of New York to raise the discount rate to 6%,
which 100 years later, in 2015, is only .25%. Panic ensued & on October 24, 1929, the New York Stock
Market crashed. Over 4 days, the Dow Jones Industrial Average had lost $30 billion in market value.
Without federal or state regulations on how banks could use depositors’ savings, many banks choose to
buy stocks with their customers’ money. Depositors rushed to banks demanding return of their deposits
& some banks could only pay 10 cents on the dollar. This “run on the banks” along with the Great
Depression looming caused 87 banks in WI to close by the end of 1932- but not Mound City Bank! With
conservative management of depositors’ funds, W.F. Knebel was re-elected President from 1931 to
1941. President Roosevelt declared a banking holiday in March 1933, whereby all banking transactions
were suspended across the nation, except for making change. Many banks never reopened, but once
again Mound City Bank had weathered the storm. We joined the Federal Deposit Insurance Corporation
in 1934 to protect our depositors’ hard earned savings.
Seeing a need for banking services, Mound City Bank opened its first branch on September 21, 1935 at
101 W. Commerce Street, Belmont, WI, which is home of McCarville’s My Turn Pub today, where you
can see the original bank vault still in use by the current owner. In 1971, the Belmont Branch relocated
to 112 Mound Avenue sharing its office space with the U.S. Postal Service.
Phil Karrmann – Current Board of Director
Hi, I’m Phil Karrmann, an attorney in Platteville. I was elected to the board in 1972. Back then, it was at
55 East Main St- the east half of where my office is located today. There were 15 employees- 3 of whom
are still active with the bank- Bob Just- who was then a teller; & Barb Bratton & Judy Steinhoff who were
bookkeepers.
My dad, Elton S. Karrmann was also a director & he was elected the President of Mound City Bank from
1941 to 1968. Morlan Melby, Paul Cardin & I replaced Horace Burnham, Dick Engelke & Gordon Heiser
on the board. The other directors were James Soles, John W. Burris, Jr., Buck Rogers, Orville Kettler,
Bernard Rosemeyer & Dr. James Moffett.
Succeeding my dad in the President’s role was Bill Oosterhuis- better known as Billy O- he was a former
federal bank examiner in the late 1930’s & early 40’s working in New York. He came to the bank as the
Cashier following Harry Cole’s retirement. His desk sat in the lobby where loan business was transactedthere was no privacy. He was extremely conservative- but could be very compassionate as he helped
many veterans coming out of WWII to get their start in farming & business. When Billy O came, Cashiers
ran the bank. That continued until 1968, when he became President & since then the Presidents run the
bank.
Morlan Melby – better known as Mel- came from Chetek in 1969 & became President in 1973; he was
sort of a nervous person with a whole lot of nervous energy. He did it all- even changed the light bulbs.
We were outgrowing our Main St facility so a board decision was made to construct a new bank at 25 E.
Pine Street in 1977, proudly featuring a 2 lane drive-up. John W. Burris, Jr. or Jack, as we knew him,
retired as Chairman of the Board in 1981 after serving 56 years as a director. Bernard Rosemeyer was
then elected as the next Chairman of the Board & served until 1993- the nicest person that I have ever
known. I also had the pleasure of serving with past directors- Wilson Boldt, Doug Speth & also former
Chairman of the Board Dick McWilliams who served as a director from 1981 to 2013. Today, the mix of
our Board is younger & more business oriented & led by Chairman of the Board Craig Trongaard. Other
members are Barry Brodbeck, Steve Brogley, Keith Buchert, Dennis Cooley, Donna Hoppenjan, Bob Just
& Dick Kopp.
It has been a real honor for me to be involved & represent our shareholders as a Director for the last 43
years.
Bob Just - 8th President from 1986 to 2013 – Current Board of Director of Mound City Bank
Hi, I’m Bob Just & I was proud to serve as Mound City Bank’s 8th President from 1986 to 2013. By 1986,
the bank had grown to $64.5 million in assets & 24 employees. My presidency began in the midst of a
severe Ag Crisis that caused financial hardship for many of our farm & Agri-business customers. These
were the days of high interest rates with 30 month CDs paying over 17 & 1/2% & the prime lending rate
at 21%.
When I started as a teller in 1971, there were 13,602 banks in the US & 607 WI banks. We were proud
of our $17.2 mil in deposits & $180,000 in earnings. All 4 tellers collectively balanced in 1 cash drawer &
we had a great record of always balancing to the penny. In those days, the bank was open until 8pm on
Friday night & from 8 am to noon on Saturday. Dave Jones & I would hand post interest & principal
payments on the actual loan document & then hand post the same payment onto a paper tickler that
would run through a 12 pocket proof machine run by Barb Bratton. Judy Steinhoff could file paper
checks faster than most machines, but as our customer base grew, automation became a necessity.
Today we have check imaging, e-statements, remote deposit capture & Online & mobile banking
capabilities. Back in 1971, new deposit accounts were opened at the teller window in less than 5
minutes hand typing each document! I can remember John Meisel buying the bank’s very 1st computer.
Shortly thereafter, computers became common place in everyone’s office & every manual system was
converted to computer access.
GET SMART- an acronym for Get Educated Through Strategic Marketing and Regulation Training was
introduced. Through these sessions, employees were trained on regulation changes, learned how
different areas of the bank functioned & became familiar with bank profitability measures, better known
as Bob’s 12 Key Ratios! Board & Officer Retreats became an annual occurrence, as it was necessary, to
develop an annual Strategic Plan & Budget.
In 1992, the bank opened its 2nd branch at 200 S. Main Street in Cuba City, WI. Mound City Bank
continue to grow steadily, and in 1995, the bank constructed a new 4 lane Motor Branch providing
convenient drive-up banking, drive-up ATM services & a community room. In 1996, the Main Office
expanded to provide space for new & non-traditional banking services to its ever-growing customer
base.
In 1997, Mound City Bank shareholders approved the formation of a 1 bank holding company called
Mound City Financial Services, Inc. which improved bank access to capital, provided a market for
shareholder stock, & helped to ensure the bank’s independent ownership. With the vision of market
growth along the Highway 151 corridor, the Mount Horeb Branch was established in 2007 followed by
the opening of a Mineral Point Branch in 2008.
By the end of 2008, the real estate bubble had burst, affecting all segments of the economy- while the
severe recession impacted our bank’s asset quality & profitability. We were proud to survive without
suffering a single negative earnings report. Many banks did not survive the recession & from 1986 to
2012 there was a 57% drop in the # of commercial bank charters nationally. I was extremely fortunate
to have had the opportunity to work for MCB for 42 years & serve as the banks President & CEO for 26
years retiring in 2013.
Donna Hoppenjan – Current President & CEO of Mound City Bank
Along the way, we have shared many memories, thanks to the support of our shareholders, board of
directors, officers, staff & our valued customers…And now, Thanks for the Memories…
As you can see, our Mound City Bank family has grown over the years, & the compassionate & family
oriented culture inspires us to be “Proud to Be Hear for You”, our customer. With over 300
shareholders, 288 million $ in assets, 6 locations & 70 devoted officers & staff, this local, independent,
community owned bank is ready to continue the tradition in 2015 & beyond. On behalf of the Board of
Directors, Officers & Staff, we thank you for being a part of… Mound City Bank…Celebrating 100 Years.