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| Securant Bank & Trust |
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History:
In June of 2008, MWBank’s name was changed to Securant Bank & Trust™.
Securant Bank & Trust will continue to grow as a locally held, community bank serving clients on the premise of “Your success. Our purpose.”
Please enjoy the following highlights of our rich heritage.
Securant Bank & Trust’s founding bank was Teutonia Avenue State Bank. The bank opened its doors in December 1914, funded by $50,000 in capital stock provided by Judge J.C. Eschweiller, Frank B. Schultz, and Charles H. Phillips. The original number of employees totaled four, led by President E.W. Staadt. By 1916, with the suffrage movement underway, the bank’s staff grew to seven and included a woman.
The Teutonia and Hadley area, where the bank was located, was considered “the end of the carline.” The bank served clients here for 12 years, until it outgrew its space. In 1926, the bank moved to larger quarters at 2803 N. Teutonia Avenue. This building was typical of elegant banking structures at the quarter of the century. Marble expanses and potted palms adorned the interior. During this time, the bank underwent a minor name change, from Teutonia Avenue State Bank to Teutonia Bank.
In 1956, a syndicate led by Harold Emch purchased control of Teutonia Bank, and Mr. Emch became chairman of the board. Gregory Schaefer became the president. The bank was headed for many changes, including a new name and a new location.
On September 30, 1957, the bank was renamed Milwaukee Western Bank, properly identifying it with the western edge of Milwaukee. In 1958, the bank moved to its new location at 60th and Capitol Drive. The building’s new look reflected management’s belief that an up-to-date physical plant went hand-in-hand with modern banking methods. Construction costs for the new bank, including the land, totaled $650,000.
The bank’s Trust Department opened December 1, 1963, with Richard Sachs becoming vice president and trust officer in 1964. Mr. Emch retired in 1966 as president and named James Hauer as his replacement. In 1967, Mr. Emch stepped down as chairman of the board, becoming honorary chairman, and Richard Sachs was named both chairman of the board and president of the bank.
Mr. Sachs continued in these roles throughout the 60s, 70s and 80s. During this time, a Florida corporation owned the majority of shares in the bank. In 1980, however, Western Bancshares, a local bank holding company, was formed, purchasing 100% of bank shares and appointing a new board of directors. The bank returned to its heritage of local ownership, under which it operates today.
An addition to the building was completed in 1981, creating a new walk-up and drive-up facility. At the same time, the lobby and other areas of the bank received a major face lift, the first since 1957. Western Bancshares and the bank continued with Mr. Sachs as president and CEO until his retirement in 1994.
A group of Milwaukee-area investors formed Capital Commerce Bancorp Inc., a bank holding company, which purchased the bank from Western Bancshares in August 1994. These investors became the bank’s executive officers and directors. President Roger G. Dirksen, Executive Vice President David A. Davis, and Senior Vice President Michael P. Peters led the bank into a new era of growth and expansion.
The bank’s western growth continued in 1997 with the opening of its Hartland branch, at 400 Cardinal Drive, serving the Lake Country Area. The bank’s assets also continued to grow, nearly doubling from 1994 to 2005.
In April 2006, bank management carried out a structured succession plan in preparation for Mr. Dirksen’s retirement. David A. Davis was promoted to president and CEO, and Michael P. Peters became executive vice president and COO. Just a few months later, in August 2006, the bank completed construction for its third location, at W178 N9358 Water Tower Place in Menomonee Falls. Corporate headquarters moved here from Milwaukee, and the bank’s name was shortened from Milwaukee Western Bank to MWBank.
The newly promoted executives initiated a private stock offering to the bank’s management and other local investors. The private offering was completed on December 31, 2007, raising capital to add products, services and locations. A new board of directors was appointed in October 2007, Mr. Dirksen retired in December 2007, and four board seats were added in April 2008.
The focus on growth and expansion continues. In April 2008, the bank added its fourth location, at 306 E. Washington Street in Slinger. June 17, 2008 saw the bank’s name change to Securant Bank & Trust, reflecting the bank’s growth beyond Milwaukee while drawing attention to the Wealth Management division’s trust services. In February 2009, the bank added its fifth location, at 12960 W. Bluemound Road in Elm Grove.
Today the bank continues to grow its assets, products, services and locations, building on nearly 100 years of commitment to the community. As it has from the very beginning, the bank understands that its operating principles and beliefs must focus above all on success for its clients. |
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