Question 1

What is Butte State Bank?

Accepted Answer

Butte State Bank is a community-focused commercial bank serving North Central Nebraska. Located between the Missouri, Niobrara, and Keya Paha rivers, the bank operates with approximately $57.6 million in total assets and maintains 2 branch locations. As a state-chartered bank and member of the Federal Reserve System, Butte State Bank specializes in agricultural banking while providing comprehensive financial services to individuals and businesses in Boyd County and surrounding rural communities. The bank operates as a subsidiary of Butte State Company and proudly embraces its motto: "Small enough to know you and large enough to serve you."

Question 2

When was Butte State Bank founded?

Accepted Answer

Butte State Bank traces its roots to 1904 when First National Bank was originally chartered in Butte, Nebraska. The founding officers included H.A. Olerich, M.L. Honke, E.R. Johnson, Emil Statsman, and J.A. McLaughlin. In 1944, the institution underwent a significant transformation, converting from a national bank charter to a state-chartered bank and adopting the name Butte State Bank. The shareholders at the time of this charter change included A.P. Anderson, R.W. Dickerson, W.W. Mahannah, W.L. Brennan, L.F. Reiman, Gustave Kehn, W.K. Witla, E.J. Statsman, and C.J. Tomek.

The bank entered a new era in 1963 when Joe G. Brewster purchased the institution, with his son Dennis Brewster moving to Butte to manage operations. This marked the beginning of three generations of Brewster family ownership. In 1971, Dennis and Lea Jane Brewster acquired controlling interest from Joe, followed by Craig and Tammy Brewster purchasing controlling interest in 1999. Craig Brewster represents the third generation of his family to lead the bank.

Question 3

Where is Butte State Bank headquartered?

Accepted Answer

Butte State Bank is headquartered at 510 Thayer Street in Butte, Nebraska 68722. The main office was relocated to Thayer and Park Streets on June 16, 1969, establishing the bank's presence in the heart of this small North Central Nebraska community.

Question 4

Where does Butte State Bank operate?

Accepted Answer

Butte State Bank operates 2 branches exclusively within Nebraska. The main office is located in Butte (Boyd County), and the bank expanded its geographic footprint in 2006 by opening a branch location in Spencer, Nebraska. This expansion allows the bank to serve a broader portion of North Central Nebraska's rural communities, focusing on agricultural areas between the Missouri, Niobrara, and Keya Paha rivers.

Question 5

What services does Butte State Bank offer?

Accepted Answer

Butte State Bank provides a comprehensive range of banking services tailored to both personal and business customers. Core offerings include checking accounts, savings accounts, certificates of deposit, and various loan products with a strong emphasis on agricultural lending.

The bank has evolved significantly with technology, offering robust digital banking services including online banking accessible via computers, tablets, and smartphones. Customers can access the "Butte Bank Anywhere" mobile banking app for account management, fund transfers, and bill payment. The bank also provides mobile deposit capabilities, allowing customers to deposit checks remotely using their mobile devices.

Additional services include debit cards with Card Valet fraud protection features, wire transfers, online bill pay, e-statements, cashier's checks, money orders, safe deposit boxes, and Visa gift cards. Through its parent holding company formed in the mid-1970s, the bank also offers insurance products via Butte State Agency, providing comprehensive financial and insurance solutions to the community.

Question 6

What makes Butte State Bank unique?

Accepted Answer

Butte State Bank stands out as a family-owned institution now in its third generation of Brewster family leadership, demonstrating remarkable continuity and deep community roots spanning over 60 years under the same family's guidance. The bank's agricultural specialization designation reflects its expertise in serving the farming and ranching communities of North Central Nebraska, positioning it as a trusted partner for agricultural financial needs.

Despite its small size with only 8 employees, the bank maintains strong financial performance with a return on assets of 0.93% and return on equity of 10.08%. Operating as an S-Corporation provides tax advantages that can benefit shareholders while maintaining its community banking focus.

The bank successfully balances traditional community banking values with modern technology, offering comprehensive digital services while maintaining the personal relationships that define small-town banking. Its integration with Butte State Agency provides customers with a one-stop solution for both banking and insurance needs, uncommon among banks of this size.

Question 7

What type of financial institution is Butte State Bank?

Accepted Answer

Butte State Bank is classified as a State Chartered Commercial Bank with Federal Reserve membership. This classification means the bank operates under a state charter from Nebraska while also being a member of the Federal Reserve System, subject to Federal Reserve supervision. The bank holds FDIC insurance (Certificate #16110) and is structured as an S-Corporation for tax purposes.

As a commercial bank with agricultural specialization, Butte State Bank is specifically equipped to serve the unique financial needs of farmers, ranchers, and agricultural businesses in rural Nebraska. This designation reflects the bank's expertise in agricultural lending, understanding of crop cycles, livestock operations, and the seasonal nature of farm income. The bank's status as a state-chartered FED member provides it with the flexibility of state banking regulations while maintaining access to Federal Reserve services and resources.

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