March 19, 2008 - First State Bank’s motto is “Big Enough To Serve, Small Enough To
Care”. And care they do. Present and former Odebolt residents breathed a
collective sigh of relief when First State announced plans to restore
Odebolt’s historic bank building on Main Street.
First State Bank of Ida Grove purchased the building from Odebolt State
Bank on February 7, 2008. Norm Behrens, Odebolt Manager, stated that plans
are to complete the bank’s restoration by the Odebolt Creek Days weekend,
which is June 20-22, 2008. They hope to offer tours of the bank to the
public during that weekend.
Local resident Bob Hardin stated, “You won’t find a small-town bank
building as grand as this in 14 states!"
History of the Building
W.P. Adams, owner of Fairview Farm (commonly known as "The Adams
Ranch") was responsible for building the distinctive building in 1914-1915
on a wedge-shaped plot between First and Second Streets, fronting on
Odebolt’s Main Street. The architects who designed the building were
Graham, Burnham and Company, of Chicago, the same architects who designed
the Field Museum and Union Station in Chicago.
First National Bank moved into its new building in 1915. It was
distinctive in that was the only Midwest bank to carry its own gold
standard currency, which today is listed from time to time on the online
auction site eBay.
In the May 10, 1934 issue of The Odebolt Chronicle, First National Bank
published a NOTICE TO THE PUBLIC.
“... The Bank will discontinue active banking business on the
date to be fixed at the meeting of the stockholders, to be held on June
12th, 1934 and it is assumed that this date for discontinuance of
business will be June 18th, 1934.”
This was during the Great Depression when many banks failed. However,
First National paid off all its depositors before closing its doors, the only
bank in the U.S. to ever do this type of termination.
For the next 33 years the building was closed to public access and
looked after by caretakers. And so it remained unused and preserved in
time from 1934 to 1967.
In 1967 Odebolt State Bank bought the building from Charles Lakin, who
had purchased the Adams Ranch and the bank building in 1962, and moved
from its former building on the north side of Second Street. Odebolt State
Bank conducted business there for the next 40 years, but very few changes
were made to the interior structures.
Renovations in progress
After purchasing the bank in 2008, First State Bank made the decision
to restore the building to its former glory, realizing the historic
importance of its almost original condition. The beautiful black and
white marble floors have been polished. Brass fixtures, doors, and
teller cages are being cleaned and buffed. Behind a floor-to-ceiling
plastic curtain on the south side of the interior, damage to the walls,
plaster decorations and columns is being repaired. Among other
restorations, windows will be replaced, and the walls and ceilings will
be repainted. Possible future plans may include the renovation of
the west "Adams Ranch" portion of the building.
There’s a buzz of activity at the bank as the plastering, polishing and
general refurbishing continues, observed by curious locals who stop in to
watch the restoration in progress.
In the meantime, it is business as usual, as the bank’s staff provide
services to customers.
