Congratulations on 100 Years.
The Bippus State Bank opened for business on July 22, 1911 in the heart of the small, rural community of Bippus in Huntington County, Indiana. The result of the efforts of Mr. M.N. Knight, who operated a general store in Bippus, and as a service to the people of the community, he conducted a currency exchange in his place of business. Dr. I.E. Perry worked with Mr. Knight toward founding a chartered bank.
The original name was Bippus State Bank. In 1931, twenty years after its founding, it was necessary to renew the charter. At this time, the state of Indiana granted a perpetual charter, and the bank’s name became The Bippus State Bank.
Prior to opening for business, stock subscriptions were taken and the capital structure consisted of $25,000 in shares at $100 each, par value. In 1961, the capital stock increased to $50,000 in shares of $20 each, par value, reflecting the bank’s growth over time in an expanding economy.
The founding organization consisted of nine officers: Mr. M.N. Knight, President; M.E. Flora; John Murray; Peter Hornaday; John Wagner; S.E. Stults; G.W. Schraeder; Dr. I.E. Perry; and Peter Deiser. J.F. Stephenson was employed as cashier at the rate of $75 a month. Operating expenses for the first year of business totaled $1,310 with an income of $3,221.
Since 1911, The Bippus State Bank has grown multiple times. In 1973, the bank moved to a new building across the street in Bippus. In 1985, a branch was opened in Huntington. Ten years later, a second Huntington Branch was opened in 1995. In 1997, a new building was built to replace the original Huntington Branch and became the new (and current) Main Office. Again, in 2003, the bank grew and opened a branch in Roanoke. Most recently in 2006, the bank officially closed the Bippus Branch and moved to a new building in North Manchester.
Along with its physical growth, The Bippus State Bank has also expanded its services to include a full spectrum of financial products. In 2011, The Bippus State Bank was proud to celebrate their 100th Anniversary.
The Bippus State Bank is our favorite bank however it is not owned or affiliated with John Bippus Co..
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