The State Bank of Willow Springs – Almost 125 Years Old

Recently, my wife and I closed all our accounts at the bank we have done business with for over fifty years. It was the bank of our parents and grandparents. I know many with roots in Willow Springs share memories like ours of the State Bank of Willow Springs during its long relationship with our community, which was, for decades, the only bank in town. The US Bank -Willow Springs branch, the descendant of the State Bank of Willow Springs, will soon close its doors, just months shy of its one hundred twenty-fifth anniversary here.

 

Many readers, like me, had a relationship with the State Bank of Willow Springs when it was located on Main Street. I recall being taken into the bank by my mother in the 1950s and looking up at the imposing polished wooden and metal teller cages with gleaming ballpoint pens in holders with chains attached to the counter. The bank had been remodeled in 1949 and was impressive. Growing up, I had a savings account there, which eventually led to a checking account, a home loan, and business loans – always on a first-name basis from the tellers to the bank president, because it was locally owned and they knew me as neighbors and friends.

 

Looking at the history of that bank, we have to look first at its forerunner of twenty years. The first bank in Willow Springs was, unsurprisingly, named the “Willow Springs Bank.” It resulted from a commercial boom brought on by the arrival of the Kansas City, Fort Scott, and Memphis Railroad in 1882. This was followed by the Current River Railroad line running east to exploit the yellow pine harvest. A lot of money began exchanging hands, and business flourished on First, Second, and Center Streets.

 

The Willow Springs Bank was organized in 1890 and erected a brick building at the corner of Center and Second Streets in 1893, complete with the city well and water pump in the middle of the road in front of the bank. Today, that building houses G&W Supermarket, and the brick front and entrance to the old building are now covered with metal siding. One of the original bank stockholders was Doctor J.C.B. Davis, who, after the bank closed, had his office in the bank building at the time of his kidnapping and murder in the late 1930s. The same building housed the offices of Doctor Coffee for several years.

 

In 1906, the State Bank of Willow Springs was organized and did so well that twenty years later, on April 30, 1929, it purchased its competitor, the Willow Springs Bank. Black Friday, the great stock market crash, occurred in October of the same year, but the State Bank survived and flourished through the Great Depression and two world wars.

 

Jac Zimmerman of the Willow Springs News, on the occasion of the State Bank’s golden anniversary, published a special edition of his weekly paper in March 1956 to commemorate and document the story of the bank. He wrote: 

 

“Fifty years ago, a new financing venture was born in Willow Springs under the name of the State Bank of Willow Springs. The new business was opened to the public on March 5, 1906, at its location in the Sass Building, corner of Harris and Second Street. The new business bank was founded by five enterprising businessmen of Willow Springs in those days of horse and buggies, mud streets, bowler hats, bustles, and high-button shoes. It was a day when the railroad was the fastest transportation available. It was also a day when the dollar was worth 100 pennies.”

 

“Those five men, who put up $10,000 between them, did it in the face of strong competition. The Bank of Willow Springs was then in business and was a virile and two-fisted competitor. This bank was located at Center and Second Street in the building now owned by Mrs. Anna Forrester and occupied by the Smith Insurance Agency (1956).”

 

“Five Met in January - One cold and blustery day, and specifically Tuesday, January 23, 1906, these five men met in the office of James Ferguson, who was a businessman dealing in insurance, real estate, and property. They were Frank Sass, Warren Allen, George W. Roberts, Daniel H. Fleming, and Christ Sass. The five men were the original stockholders and directors of the State Bank of Willow Springs.”

 

“At a meeting later in the month of February, the five original stockholders again met and elected their officers. It was at this meeting that the name “State Bank of Willow Springs” was selected. Frank Sass, the father of Adolph Sass, was elected President of the Board of Directors, and Daniel Fleming was selected to serve as the secretary.”

 

“Warren Allen was elected to serve as Cashier of the State Bank of Willow Springs, and the minutes of that meeting record that Allen was to be paid a salary of $50 a month and was put under bond for $5000. It is interesting to note that in those days, the stockholders served as their own auditors. Each month at the director’s meeting, the stockholders would count all the notes, cash, and specie. The specie being gold pieces and other valuable coin.”

 

Frank Sass had just finished a new building at Harris and Second Street known today and in the past as “The Opera House.” Zimmerman noted in 1956 that Ira Wilbanks’ Grocery was occupying the building’s ground level. In 1906 the State Bank of Willow Springs was located on the second floor of the building. The News reported:

 

“The first change in personnel at the State Bank occurred on October 9, 1909, when W.T. Wright succeeded Warren Allen as cashier, after Allen had served about three and one half years.”

 

“Frank Sass, who had served the State Bank as President of the Board of Directors and who was the majority stockholder, sold his interest in the bank to E.M. Rollins on April 1, 1911, just over five years from its beginning. Rollins was also in the undertaking and furniture business here.”

 

Just a year later, April 1, 1912, C.H. Burchard moved here from Waynesville, Missouri, and succeeded W.T. Wright as cashier at the bank almost three years.

 

“Mr. Burchard was to serve the State Bank of Willow Springs as its cashier for forty-two years, April 1, 1912, to March 31, 1954, forty-two years to the day. He passed away in a Springfield hospital after several months of ill health. He is perhaps the best known officer that ever served in the State Bank. Mr. Burchard was active in community affairs, church work, and was President of the School Board for many years.”

“Fred L. Green who was assistant cashier under Mr. Burchard since 1925, succeeded him in the position of cashier and is the present day cashier of the State Bank. Mr. Green began his duties as cashier February 15, 1954.”

 

“T.R. Burns purchased the furniture store and undertaking business from E.M. Rollins February 13, 1915. Mr. Burns also purchased Mr. Rollins’ interest in the State Bank of Willow Springs. Mr. Burns was to serve the State Bank as President Board of Directors until his death May 16, 1945. Burns was to serve the bank the most number of years as its president, thirty years.”

 

“A tragic note enters the story of the history of the bank here, when E.M. Rollins accidentally shot himself in his store on April 5, 1915. Although Mr. Burns had already purchased the bank stock and business of Mr. Rollins, he had not yet moved here from Craig, Missouri, where he was in the drug store business.”

 

“The Willow Springs Republican, edited by H. F. Slusser, reports ‘E.M. Rollins, a prominent furniture dealer of this city, accidentally shot the entire upper part of his head off early Monday morning with a single-barrel shotgun at his store on East Second Street. The first that was known of the accident was when Ed Ogden entered the building about 7:30 o’clock to purchase some linoleum. The body of Rollins was found lying at the foot of a ladder with the entire top of his head above the ears shot off. The shotgun was lying at his side and contained an empty shell.”’

 

The editor is a little hard to follow here, and jumps to the death of T.R. Burns thirty years later:

 

“After Mr. Burns’ death (1945), E.E. Ogden, Sr. was elected president of the State Bank of Willow Springs, and he serves in that capacity (1956) at the present time. Mr.Ogden, now retired, was in the grocery business in Willow Springs for many years.”

 

“The State Bank of Willow Springs moved from its original location in the Sass Building to its present location (1956) at 123 East Second Street in 1916. The bank building was remodeled in 1949, with its present modern, clean appearance.” Today, the old bank building at 123 East Second is owned by Wendell Bailey, and much of the office counters remain, along with the bank vault.

 

Like many small-town banks, the State Bank of Willow Springs eventually sold to a series of corporate buyers, beginning with Merchantile Bank, then FirstStar, and finally US Bank, which will soon close its offices in Willow Springs. I can recall dozens of State Bank officers and employees and our friendships that spanned my fifty years with the bank. I also miss the days when a loan was approved with a handshake and a signature on the spot because they knew you.