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 State Bank of Townsend - Townsend, MT Posted by:  T0SHEA
N 46° 19.244 W 111° 31.029
12T E 460187 N 5129814
Established in 1899 and built beginning in 1916, the State Bank of Townsend, though it has since expanded, is still housed in its historic building.
Waymark Code: WMWN43
Location: Montana, United States
Date Posted: 09/19/2017
Views: 0
Designed by Albert Mooreman and Company of St. Paul, Minnesota, the Neo-classical styled State Bank of Townsend was built in 1916-1918. It is the longest running bank in Montana operated by the same family which chartered it. Not only is the bank's exterior essentially unchanged from the time it was built, the interior is, as well. It is one of the last banks in the state not to have remodeled its interior, still using the original facilities installed at its opening.
While the country was forced to suffer through the "Great Depression" of the '30s, Montana had a much tougher experience as its depression began in 1917, with the first year of drought in the state. Since many Montana banks were heavily invested into agriculture, as the drought continued, Montana banks began to fail. Though the situation had improved somewhat by the end of the '20s, the crash of 1929 plunged Montana back into (or further into) depression, taking still more banks to the brink and beyond. Fortunately for the town of Townsend, the State Bank of Townsend was not one of them, soldiering merrily on to this day.
Three years after Wisconsin native John Patrick Kearns graduated from Bayless Business College in Dubuque, Iowa, he traveled west to explore career possibilities in Montana. A year later, the 27-year-old entrepreneur moved his young family to Broadwater County and helped launch The State Bank of Townsend. Thus began a legacy of family-owned, independent banking which continues in its second century.
With opening capital of $25,000.00, The State Bank of Townend listed as officers on its inaugural day – June 1, 1899 - President J.E. Kanouse, Vice-President A.W. Schreiber, Head Cashier and Major Stockholder J.P. Kearns and Assistant Cashier Louis Rotwitt.
J.P. Kearns assumed presidency of the Bank in 1917, continuing his 51 year career at the State Bank of Townsend. Four of J.P and Sarah Mary Kearns’ children went on to hold positions at the Bank, the youngest son, James W. Kearns, carried on the family tradition. working more than 50 years in the banking business.
The bank moved into its new building in 1918 and continues to occupy this space today.
From the State Bank of Townsend
STATE BANK OF TOWNSEND
J. P. Kearns came to Townsend from Benton, Wisconsin, in 1899. Business-educated and experienced, Kearns astutely recognized the town’s need for a new financial institution and founded the State Bank of Townsend only three months later. The bank was first located at 312 Broadway Street. Then in 1916, plans for a new building were begun. Albert Mooreman and Company of St. Paul, Minnesota, a firm specializing in bank plans and construction, designed the Neo-classical style building. The structure features an imposing entrance in temple motif framed by columns and pilasters with a pediment of colored sandstone. Completed in 1918, its secure and commanding presence came to be especially significant during the hard financial time ahead. Despite drought, depression, and the area’s dependency on an agricultural economy so devastated by these circumstances, the State Bank of Townsend managed to survive when many small-town banks did not. J. P. Kearns’ cautious loan policies and conservative banking methods provided a solid foundation for long-term success. For almost a century, the State Bank of Townsend has been owned and operated in principal by members of the same family that chartered it, thus setting a record unmatched by any other bank in Montana.
From the NRHP plaque at the building
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This is a beautiful old temple style building - it the bank is open we suggest you go in and check out the interior. It's like stepping into a time machine and setting the date for 1918.
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