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Bank first opened with $50,000 in capital

Photo at left: The U.S. Bank in Lake Geneva has had several names and locations in the city since 1884 when it was founded. More Mystery Place photos in the GALLERY

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The U.S. Bank building is located at 303 Center Street in Lake Geneva. The forerunner of the bank, the First National Bank, was established on Jan. 31, 1884 in the building at 712 W. Main St.

Frank Leland was the bank’s first president and John A. Kennedy was the cashier. It started out its operation in what had been a dry goods store. However, the building had been remodeled to fit banking needs and began with $50,000 in capitalization.

In his History of Walworth County, Beckwith indicates that in 1912 Levi A. Nichols was president and Josiah Barfield was cashier.

Nichols came to Walworth County in 1854 with his parents. They settled in Section 25 of Linn Township. He became a bank director in 1903 and six years later was elected president of the bank.

By 1921, the bank capitalization had grown to $100,000. The bank moved to its next building at 749 Main St. This was needed to accommodate their growing business. If you walk own Main Street, you still can see the words, “First National Bank” on the building’s facade.

In 1962, George L. Allen was named president of the bank. His father had served in that capacity from 1934 to 1952, while his grandfather had served as a director around the turn of the century.

In 1963, bank directors saw the need for yet another new building, which is the current one on Center Street.

By then, their capitalization had grown to $600,000. The board of directors at the time included Chairman William F. Trinke, President George L. Allen, Vice President Edward J. Kennelly and directors H.C. Wiley, Franklin Walsh, Weber L. Smith, J. Werner Deignan and Frank Fermano.

The building’s general contractor was Paul Gavin and Sons. It was designed by Derald West-Levon Seron, Architects.

When the building opened it featured five murals showing some of the history of the area.

The murals depicted Major John Kinzie and his party discovering Geneva Lake, the first Sheridan Regatta held n 1974, a tallyho from the J.H. Moore estate, the Whiting House and the 5:18 Millionaires’ Special train arriving from Chicago.

Later, after remodeling, the murals were removed and donated to the city where they are now hung in Lake Geneva City Hall.

The bank went through several name changes prior to becoming U.S. Bank. It was, at times, First National Bank, then First Bank Southwest, then and Firstar Bank before becoming U.S. Bank.