The Elizabeth State Bank shares with Jo Daviess County a history built upon community service and family values. In 1885 Anson Nash owned and operated a jewelry store that included a safe to secure the store’s valuables. People within the community soon began entrusting Mr. Nash to store their extra funds in the safe at night. The holding service eventually became large enough that he decided to open the Elizabeth Exchange Bank, which held money, but did not offer checking or other banking services. In 1909, after the passing of her father Anson Nash, Lois E. Nash officially started The Elizabeth State Bank with an opening capital of $25,000.00.
Because there were no stock market reports available, the Chicago market telegraphed information to the bank. Each day the tellers posted the reports in the windows of the bank allowing local farmers to get a daily price for their livestock.
In 1949, to commemorate the bank’s 40th anniversary, a 16-foot neon clock with two fac
es was installed on the corner of the building. This clock can still be seen today on the bank building in Elizabeth.
Over the years, like Jo Daviess County, The Elizabeth State Bank has seen abundant growth and change. In August of 1995 the installation of an Automated Teller Machine was added for our customer’s convenience.
On May 3rd, 1999 our branch was opened in Galena as a loan production office with Lynn E. Gaber, a life long resident of Galena, serving as the Vice President. Two more employees joined our team in Galena and the office was converted to a full service branch on February 1st, 2001.
As we continue to grow and look toward the future, the Galena branch of The Elizabeth State Bank will move from it’s current location in Galena to a larger facility in 2006. The new facility will include a drive through, ATM and extended hours.
Since 1909 The Elizabeth State Bank has demonstrated the dedication and teamwork to become a recognized service leader within the community. As The Elizabeth State Bank continues to do business in the 21st century, it remains committed to the principles and high standards that have guided its success throughout the years.
