Quincy's Oldest Community Bank

A History of State Street Bank

State Street Bank was founded on July 14, 1890, by Herman Heidbreder, Charles Becker, William H. Govert, and William Collins. Originally located at the southeast corner of 8th & State Street in Quincy, Illinois, the bank's opening was initially scheduled for July 1, 1890. However, just two days before its planned opening, Martin Heidrich, who was to oversee operations alongside Heidbreder, passed away unexpectedly. This unforeseen event delayed the bank's official opening until July 14, 1890.

Following the establishment of the bank, Herman Heidbreder sought out Henry C. Sprick in Fremont, Nebraska, offering him a position at State Street Bank. Sprick accepted the offer, relocated to Quincy, and eventually became the bank's president.

By June 1909, State Street Bank relocated to its current location at the northeast corner of 8th and State Street. In 1917, the bank acquired a building at this site, which was remodeled and officially reopened in 1921.

In 1919, the bank transitioned from a private institution to a state-chartered bank and adopted the name State Street Bank and Trust Company. Over time, it became commonly known as State Street Bank. In 1942, State Street Bank became the 446th member institution of the Federal Reserve Bank of St. Louis.

Between 1910 and 1920, the bank expanded its reach by operating offices in Payson and Coatsburg, Illinois. By 1968, the bank had further diversified its services by introducing installment lending and establishing dedicated farm and installment loan departments.

State Street Bank continued to grow in the 1980s and 1990s. In 1982, the bank reopened a branch in Payson, marking a return to the community it had previously served. The early 1990s saw the opening of two in-store branches inside Niemann Foods' County Market locations at 24th & Spring and 9th & Jefferson in Quincy. In 1993, the bank expanded its presence further with the opening of a branch at 48th & Broadway.

Throughout its history, State Street Bank has remained committed to its founding principles: providing a safe place for customers' funds and prudently loaning and investing those funds to support the growth and prosperity of the community. At the bank's 100th anniversary, former president James E. White reaffirmed this commitment, stating that the bank had upheld this mission for a century and would continue to do so.

With over 135 years of service, State Street Bank remains Quincy's oldest community bank, steadfast in its mission to serve customers and support local growth. Its history is a testament to its resilience, adaptability, and unwavering dedication to the community.

State Street Bank has remained committed to its founding principles.