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| Additional information |
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| Grand Rapids State Bank |
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History:
The original Warba State Bank was chartered on June 14, 1914. Claude C. Wilcox joined the Warba State Bank in 1918, and purchased it in 1920. Claude and his wife, the former Cecilia Westurn, were the only employees. In the fall of 1936, the charter of the Warba State Bank was changed to the Grand Rapids State Bank and the bank was moved to Grand Rapids, the Itasca County Seat. At the time of the move, bank assets were $124,500.00. After temporarily working in a storefront in the Kenler building, Claude moved the bank into its new Grand Rapids location, a building which was approximately 25 by 50 feet.
Following five years of service in the U.S. Navy, Claude's son, Clair C. Wilcox, joined the bank in March 1947. At that time, total assets were $2,000,000.00. A planned expansion was postponed due to the death of Claude in January 1950. In 1953, an additional 25-foot expansion was added. Clair built the new Downtown Office and the bank moved into its new home on August 24, 1970. At the time of the move, total assets were $14,000,000.00.
Clair's sons, Steven M. Wilcox and Craig C. Wilcox, joined the bank in the early 1970s when total assets were $14,000,000. During Steven's tenure and later through his leadership, the bank's assets grew to over $200,000,000. In 1989, under Steven's direction, the Pokegama Office was added. The Financial Services Center was added in 1994 and initially housed Grand Rapids State Agency. The facilities were expanded in 2001 to include brokerage, card services, Club Grand and other financial services.
Steven's eldest son, Noah W. Wilcox, joined the bank and senior management in 1999 and became the fourth generation to lead the bank in 2007 when he assumed the role of President and CEO. During his tenure, Noah has been instrumental in leveraging technology to create operational efficiencies and delivery conveniences for bank customers. Noah has effectively re-branded the family business and restructured delivery methods. Under his direction, Internet Banking was brought to the customer base in 2000, electronic statements were made available in 2004 and remote deposit in 2007. Noah worked to re-align several internal reporting lines to create a more responsive environment for the customer and is focused heavily on the service delivery component of our business. |
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