Then and Now

In 1905, the First State Bank of Mantorville opened and was in the stone building along Main Street. It closed for good in 1932 when the stock market crashed, depression occurred, and many banks across the country failed. In 1977, Citizens State Bank and Marquette Bank of Rochester opened their branches in Mantorville. In 1980, Citizens Bank bought out Marquette Bank and took over their building, and they moved from a trailer house. A building remodeling project by Citizens Bank was finished in November 1983. In November 1983, the 26-week Money Market Certificate was paying 9.02% and the 10-month Savings Certificate was 10.4%. Much different from what financial institutions have paid for the last several years. Borrowing money rates were also more than double what they are today when rates reached 16% and higher for home, commercial, and ag loans. In the spring of 2022, MBT bought Citizens Bank and has operated it since that time. Information from the DCI newspaper archives and My Mantorville Book.