Adrian State Bank recognizes 120th anniversaryADRIAN — In honor of the Adrian State Bank’s 120th anniversary, Marshall Mackay, president of the Independent Community Bankers of Minnesota (ICBM), paid a visit to Adrian recently and brought with him a commemorative flag.
By: Beth Rickers, Worthington Daily Globe
ADRIAN — In honor of the Adrian State Bank’s 120th anniversary, Marshall Mackay, president of the Independent Community Bankers of Minnesota (ICBM), paid a visit to Adrian recently and brought with him a commemorative flag.
The U.S. flag was flown over the Minnesota capitol before being placed in a specially made case. Also on hand for the presentation was Alvin Kooiman, president of First State Bank of Southwest in Worthington, who serves as the District 3 representative for ICBM.
“The flag is presented at any bank that’s at least celebrating its 100th anniversary,” explained Adrian State Bank President David Eickhoff. “Since we hadn’t gotten one for our 100th, they were kind enough to come down and give us one for our 120th.”
Adrian State Bank, now a full-service independent financial institution with an insurance agency, is the 38th oldest bank in the state, “out of maybe 600 banks,” according to Eickhoff. The oldest bank in the state is First National Bank in St. Peter at 153 years of age.
The roots of Adrian State Bank go back even more than 120 years, to when brothers E.H., Henry J. and Charles Mylius opened a real estate and loan agency called Mylius Bros. and Co. Bankers in July of 1884. Five years later, in October of 1889, the brothers filed the paperwork for the incorporation of a state bank. The name was officially changed to Adrian State Bank in 1890, and records show that it had a capital stock of $25,000, largely owned by the Mylius Brothers.
Adrian State Bank’s first president, George Eyland, was elected in October 1889. But for more than half of the bank’s history, there’s been an Eickhoff on staff.
“I have been here for 32 years, since ’85 as president,” said Eickhoff. “My father was here before me, so the Eickhoffs have been with the bank since 1940, and my daughter is working here now.”
The bank currently employs 11 people.
“I think all of our officers, myself included, have all been here 25-plus years, and we’ve probably got an average of 30 years for all of the officers,” he continued. “I think it’s an average of 19 years for all our employees, total.”
Adrian State Bank has been part of ICBM’s network since its inception in 1962, and Eickhoff was proud to accept the flag on behalf of the bank’s employees and customers.
“We have it sitting on the credenza right now,” he noted. “I think we’re going to be placing it on the wall, but until the Christmas things come down, we haven’t decided where it’s going to go.”