State Bank of Waterloo


State Bank still strong after 119 years

State Bank of Waterloo ended 2013 with assets of $130 million. In addition, the bank services over $100 million in secondary market residential and commercial loans.

The bank was founded 119 years ago (in 1894) by local investors and the bank focuses on servicing the Monroe County market area while the bank’s competitors have branched out of the area or may be controlled by out of area entities. The bank has two convenient Waterloo branches at 501 N. Market and 885 N. Illinois Route 3. The bank’s Valmeyer branch is located at 259 Knobloch Blvd.

The bank is committed to remain an independently owned and managed community bank. More than 70% of its shareholders reside within 25 miles of Waterloo, according to President and CEO Kevin Day. Directors and management all reside locally.

The bank offers all traditional banking services, including free checking, CDs, safe deposit boxes at all branches, and installment, real estate, and commercial loans. The bank’s website is The bank also has a variety of technological methods of service including mobile banking, telephone banking, and remote deposit capture.

The bank also sponsors an annual scholarship program, offering three separate four-year scholarships for $1,500 per year to a senior attending Waterloo, Gibault, and Valmeyer High Schools. In addition, the runners up at each school are awarded a one-time $1,000 scholarship.

The bank is locally managed with officers all residing in Monroe County. The officers include Gordon Gregson, Senior Vice President, Diane Ramey, Vice President/Cashier, Brad Papenberg, Vice President, Scott Goeddel, Vice President, Sandy Stueve, Asst. Vice President, and Susan Mathews, Asst. Cashier. Richard Binder is the Chairman of the Board.

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