Washington Savings Bank Ready to Celebrate 130th Anniversary

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Published on February 15 2013 8:05 pm
Last Updated on July 14 2013 4:07 pm
Written by Greg Sapp

Washington Savings Bank President and CEO Claude E. Hudson announces the bank’s celebration of its 130th year of serving Effingham and the surrounding communities.

Washington Savings Bank will recognize its anniversary throughout the year, culminating with a
Customer Appreciation Luncheon and Chamber Business After Hours in September.

“We are excited to celebrate our 130th anniversary, and we are proud of our history as the second oldest bank in Effingham,” said Hudson. “It will be an exciting year for us as we remember our history and the steps taken along the way that brought us to where we are today as a financial institution.”

Over the past 13 decades, Washington Savings Bank has grown from a small association to the largest customer owned financial institution in the community.

The first organizational meeting of The Washington Loan and Building Association was held
on Aug. 27, 1883, at the German Base Ball Club and Entertaining Society Hall in the Register
Building in Effingham. The founding members of the association were A. J. Worman, John
George Keyneman, F. H. Evers, Joe Merz, Adelbert Gravenhorst, B. R. Walters, Jacob Schmitt,
Henry Alt, John J. Schneider, Barney Overbeck, and J. A. Schellembach.

On Sept. 4, 1883, the association was issued the Articles of Incorporation chartering Washington Loan and Building Association and named Adelbert Gravenhorst as the first president of the bank. The bank first operated out of offices in the Register Building and then later on the second floor in the Opera House Block.

The bank’s main branch, also known as the round bank, was constructed in 1971, with a multilane drive-up facility added in 1986 to better accommodate customers. The main facility has been remodeled, with major expansion projects in 1999 and 2006.

“Our main building has undergone several renovations over the years, as we have expanded our offices and improved our facility to better accommodate our customers,” said Hudson.

As part of the bank’s continued expansion, it acquired a second location on Keller Drive in June of 2010 when it purchased the Effingham branch office of Centrue Bank. The branch
purchase allowed Washington Savings Bank to assume approximately $21.3 million in deposits, as well as approximately $6.6 million in loans and the branch location from Centrue Bank.

Hudson recognized the bank would not be where it is today without the dedication and leadership of its board of directors, which includes Steve Sauers, Rocky Weber, Dean Samuel, Paul Koerner and Todd Kabbes.

“Under the board’s leadership, we will continue to look at our future as a community bank to
insure we meet the needs of our customers, and we will continue to reflect on our rich past that has earned us a place in Effingham’s history,” added Hudson.

Further information about the bank, is available at its website at www.washingtonsavings.net or on the bank’s Facebook timeline.