Citizens National Bank president, David Bentele cut the Maplewood Chamber of Commerce ribbon in its completely remodeled interior to celebrate the bank’s 100th anniversary on Tuesday.
Bentele said Citizens National Bank began officially on October 27, 1915 with 35 community shareholders. They bought 250 shares of stock at $100 per share for a total starting capital of $25,000. They elected 11 directors out of the 35 shareholders.
He said he doesn’t recognize most of the names of the original shareholders, but one was Emil Scheidt, grandfather of Bob Scheidt (Bentele said it was his father, but Bob Scheidt his father was seven at the time — both were named Emil). “It’s nice to have that community connection going back 100 years,” Bentele said.
Bob Scheidt is the third generation Scheidt to own Scheidt Hardware in Maplewood.