Security State Bank – 1917

Since Arnold incorporated in 1883, the town has had five banks.  Two of those buildings have stood the test of time, with one closing in 1930, and the other bank still operating as Pinnacle Bank.

Alex Robertson’s bank, 1886, stood on the Kreative Edge corner facing west.  The other four banks were, Peoples State, Farmers State, Arnold State, and Security State (Pinnacle Bank).

For a few months Arnold had three banks operating simultaneously.  The Security State Bank operated from Ben Hardin’s store (located where the present Pinnacle bank is).  In 1917, the bank purchased the store, moved it to a new location, and built the building that is now occupied by Pinnacle Bank.  The Security State Bank was closed on June 30, 1930 by bank examiners, followed by Arnold State two days later.

Neither bank reopened, but a new bank opened its doors in the old Arnold State building (Archie’s Arnold Cafe) on September 15, 1930.  Basil C. Wehrman from Nelson was the cashier, and kept the Arnold State Bank name.  Stockholders of the new bank were John Finch, L.P. Rose, Frank Koubek, Abe Auble, Ted Chambers, John Dennis, Tom Ricketts, George DeLosh, Ross Price, and Phil Houghton.

In March of 1933, President Roosevelt declared a bank holiday to push confidence in his NEW DEAL.  Arnold depositors lined up that day to deposit checks totaling $5,000.  In 1935, the new Arnold State Bank then moved to the old Security State Bank building, leaving its former quarters to become the Arnold Café (now vacant).  B.C. Wehrman retired in 1969.  His son Ken, having been with the bank since December of 1963, became the bank President, continuing in that capacity until his retirement in 1988.  Frank Koubek’s son, Raymond, had joined the bank in 1960 and was named cashier.

Arnold State Bank was sold to the Dinsdale family of Palmer on December 31, 1988, becoming a branch of Farmers State Bank and Trust of Lexington, NE.   Larry Moran had worked as a loan officer for Arnold State since February 1, 1987, and remained in that position at Farmers State.  John McDonald became bank President, until his death on September 16, 1991.

Other presidents and their terms at Farmers State were: Rick Chohon, October 21, 1991 (six months); Ron Van Skiver January 1, 1992 (2 years).  Later all Nebraska banks owned by Dinsdale became Pinnacle Bank.

Larry Moran then served as Pinnacle Bank Market President until his retirement December 31, 2015.  Todd Thompson came to Pinnacle Bank of Arnold, as a loan officer, June 2, 2014, going on to become the Market President December 31, 2015.  He continues in that position today.

(The succession of bank names, that operated where Pinnacle Bank now stands, is printed in bold italics.)  Prepared by Berni Crow (11/12/2017).