The Peshtigo National Bank was chartered and opened for business with $25,000 capital stock on February 4, 1901. The directors had contracted with N.P. Pehrson for the construction of a two-story brick building on the west bank of the Peshtigo River at a cost of $3,200. A safe and 24 safe deposit boxes were purchased for $850. The bank was Peshtigo's first bank and has remained an independent, locally owned bank for over 100 years.
On February 2nd, 1918, a fire broke out in the office of the Peshtigo Times. Among the structures destroyed was The Peshtigo National Bank building, however, when the bank’s vault was opened all records and cash were intact. The bank relocated to temporary headquarters until a new one-story building was completed in the fall on the previous site. Peshtigo National Bank has occupied 3 locations during its 100+ year tenure. The original facility stood at 101 French Street. In 1965 the bank moved into a new building at 240 French Street, and in 1990 moved into its current location at 250 French Street.
Branch banking started in 2004. Our Marinette office was opened in June of 2004. In May of 2005 we moved into our new facility in Coleman. A former clinic was remodeled, and in November of 2005 our Gillett office opened. In March of 2006 our main office in Peshtigo underwent a large remodeling project to accommodate branch expansion. In May of 2008, our newest location was opened in Oconto Falls. In June of 2008 our Coleman location underwent a remodeling project to accommodate bank growth. During this same timeline, bank deposits grew from $52 million to $156 million, and loans grew from $31 million to $118 million, and total bank assets grew from $58 million to $177 million.
In December of 2005, our President since 1988, Richard Omdahl, retired. He was replaced by Keith Shallow. Keith keeps his office at the Coleman site. Jim Kmiecik, Senior Vice President and Chief Operating Officer, assists in the managing of the bank and is located at the Peshtigo Office.
All five branches are full service locations which serve Marinette, Oconto, and Shawano Counties, as well as Menominee County, Michigan. All of our offices have ATM's and drive-thru facilities. We are also planning to roll out Mobile Banking in the fall of 2014.