When the Springfield State Bank opened for business in 1946, the town had been without a bank for 15 years.
Before the depression, The American State Bank had served Springfield’s banking needs since 1908. But the bank could not survive the depression.
The Banking House of A. W. Clarke was the only Sarpy County bank to remain solvent through the depression. That bank later became the Bank of Papillion.
Although the Springfield State Bank opened in 1946, there is a connection between it and two Springfield banks at the turn of the century and the American State Bank.
The American State Bank was formed in 1908 by the merger of the Sarpy County State Bank and the J. D. Spearman and Company Bank.
Those two banks sat across the street from each other near the intersection of Main and 2nd Streets: the Sarpy County State Bank was located on the northeast corner of the intersection; and J. D. Spearman’s bank was located on the southeast corner.
The J. D. Spearman bank building was moved about half a block south, and a new building for the American State Bank was built on top of the foundation.
When that bank closed in 1931, the City of Springfield bought the bank building for a future bank.
A group of businessmen, farmers and investors from Springfield met in December 1945 to organize the Springfield State Bank.
The group of investors learned February 12, 1946, that the bank received FDIC approval.
The original investors of the bank were Taylor Jarmon, Otto Nielsen, C. R. Caley, Dewey Callaway, R. S. Corby, John D. Harder, Albert F. Kieck, Dr. E. G. Kieck, Roy Kiger and James P. Latham.
The bank opened with $193,500 in deposits. Taylor Jarmon, the first president of the bank, had bet a friend a cup of ice cream that the bank would open with $200,000 in deposits.
The Springfield State Bank opened February 23, 1946, in the old American State Bank building since it already had a vault and other facilities needed for a bank.
That building served as the site for the Springfield State Bank until August 2, 1975, when it opened a new building near the intersection of Main and 6th Streets, where it still does business.
Springfield State Bank
600 Main St.
Springfield, NE 68059
B & D Pit Stop
14111 Platteview Rd.
Springfield, NE 68059