Banking Service History
Compiled and Edited by Michael R. Reilly
Last Revised 05/16/2005
The first bank was started in Sussex in 1911. CalledSussex State Bank, it was operated by J. W. Cannon. It was closed in 1933 duringthe Bank Holiday due to the weakened condition caused by the GreatDepression.
In May, 1939, upon recommendation of the Federal DepositInsurance Corp. and State Banking Department, the Farmers and Merchants Bank ofMenomonee Falls took over the operation of the Sussex Bank. (Farmers andMerchants began in Menomonee Falls on May 20, 1908 with Samuel A. Connell aspresident and Albert H. Eckhardt as cashier.)
Harry Rodgers was the first manager of the Sussex F&MBank, and remained there until his retirement. Upon Rogers retirement, Elmoreand Esther Bast became a great husband-wife team as managers of the Sussexoffice. Mr. and Mrs. Bast contributed a great deal tot he growth of theSussex office. Other managers at Sussex include; Eugene Ackatz, Robert Dahindenand Earl Mester, the present manager (1972). Presently Mester has a staff ofsix. Source: Recollections from the Past: Sussex, Wisconsin,Presented by Farmers & Merchants Bank, August 4, 1972
Editor’s note: J. W. Cannon was actually the first managerfollowing the merger of the two banks, see text below.
Shown above are Elmore Bast, left, and Harry Rodgers. Both men have served as managers of the F&M’s Sussex office. Source: Recollections from the Past: Sussex, Wisconsin, Presented by Farmers & Merchants Bank, August 4, 1972
Sussex Bank in Falls Merger
Negotiations which have been pending for the past 60 dayshave now been completed whereby the Federal Deposit Insurance corporation andthe state banking commission have approved the merger of the Sussex State bankwith the Farmers & Merchants bank at Menomonee Falls. Under the terms of themerger the entire deposit liability of the Sussex State bank will be assumed bythe Farmers & Merchants bank. All local loans andmortgages will likewise be taken over by them.
The banking house at Sussex has been purchased by the Farmers& Merchants bank and they will operate a paying and receiving station thereso that Sussex, and surrounding community can be rendered banking services. J.W. Cannon, present cashier at the Sussex State bank will become manager of theSussex station and be assisted for the present by Paul Dearborn. Miss EleanoreMotz will be transferred to the bookkeeping department at Menomonee Falls whereall bookkeeping of the Sussex station will be handled. All deposits willcontinue to be insured under the terms of the FDIC.
The Farmers & Merchants bank is the second largestbank in Waukesha county with resources previous to this merger of over one andone-half million dollars. Waukesha Freeman, Thursday, May 18, 1938, page8.
Customers of the Sussex area Farmers and merchants Bank ofMenomonee Falls have received the following notice: “J. W. Cannon tenderedhis resignation as manager of the Sussex office during December,effective as of January first. He will be employed here at the parent bank in MenomoneeFalls temporarily. His position as manager of the Sussex office will be filledby Harry Rodgers who comes highly recommended by the state banking commission.Mr. Rodgers has had over 30 years experience in country bank work in Wisconsinand lived in a rural community all his life. Mr. Rodgers will take up his dutiesnext Monday, Jan. 9, and will soon move his family to Sussex as soon as he isable to find suitable living quarters. Mr. Dearborn will remain at the Sussexoffice temporarily as assistant to Mr. Rodgers.” Waukesha Freeman,Thursday, January 11, 1939, page 8.