Port Washington State Bank Celebrates 125th Anniversary

The Wisconsin Bankers Association (WBA) congratulates Port Washington State Bank (PWSB) as the bank celebrates their 125th anniversary officially on September 11, 2024. WBA Executive Vice President & Chief of Staff Daryll Lund was in attendance at a recent anniversary celebration and presented bank leadership with a plaque recognizing this impressive milestone.

Historical facts:

• PWSB is the oldest surviving for-profit establishment in the city of Port Washington (the Fire Department and St. Mary’s were established earlier).
• PWSB is one of 40 banks in the state of Wisconsin that are 125 years or older.
• There were 45 states in the U.S. when PWSB first opened for business. It’s crazy to think that the nation was not fully formed when they were first chartered, but respectively these states did not exist until 1907, 1912, and 1959: Oklahoma, New Mexico, Arizona, Alaska, and Hawaii.
• Since its 100th anniversary in 1999, the bank has quadrupled in size and now has 40,000 account relationships and a 25% market share in Ozaukee County.
• 30 years ago, when the FDIC began reporting deposit stats, PWSB held an 11% market share and total deposits in the county’s banks numbered $900 million. Today, the county holds nearly $4 Billion in banking deposits, a testament to the economic growth of our county.
• In the state, the bank ranks in the top 20% as to size in Wisconsin.
• In 1899 founders Clarence Hill and George Henry began Port Washington State Bank.

The bank is celebrating in the following ways:

• The bank purchased special anniversary apparel for their dedicated group of more than 130 employees. Employees also gathered for a memorable company picnic this past August at Village Park in Thiensville, complete with live music, fun activities for the kids, and delicious food.
• For their valued customers, PWSB held a customer appreciation week. During this week, the bank gave away over $10,000 in merchandise and gift cards to local businesses in Ozaukee County at all 8 of our locations.

Tarrah Beyer, PWSB VP/director of marketing shared, “This was the bank’s way of saying thank you to its customers for their continued trust and loyalty. At the same time, it was a great way to support local businesses which are the backbone of our communities. Our customers and our local businesses have helped us become the brand we are today.”

• The Schowalter family has also been hard at work on a history book that recaps the history of Port Washington State Bank. Jack Henke of Henke & Associates has been instrumental in helping the bank capture the story. The book is expected to be completed by November 2024.
• The largest component of the anniversary was to make five major contributions to five major projects in the county.
  • In Grafton, PWSB donated $25,000 to help with the construction of the new pavilion in Veterans Park.
  • In Fredonia, PWSB became the title sponsor of the PWSB Splash Pad with a $25,000 donation, and a future $25,000 matching donation to help encourage the community to join us in this new space.
  • Thiensville Village Park ReImagined was gifted $30,000 to support the construction of their new splash pad, which will be adjacent to the PWSB River Stage in Village Park. This exciting addition is set to be completed next year.
  • In Saukville, PWSB contributed $30,000 to replace playground equipment at Schowalter Park, ensuring that children can enjoy safe, modern facilities this year and for many more to come.
  • And finally, in their hometown of Port Washington, PWSB underwrote the costs for refurbishing the Port Washington State Bank Pavilion, originally constructed for our 100th anniversary 25 years ago. With new roofing, paint, lighting, and additional lake-side seating, the pavilion stands as a testament to PWSB’s lasting presence and commitment.

At a recent dedication ceremony of the PWSB pavilion in Rotary Park, PWSP Chairman/CEO Steve Schowalter said, “Our longevity is no accident. It’s the result of a deep and abiding commitment to doing what’s right, not just for our shareholders, but for our entire community. We’ve always believed that a bank should be more than just a place to manage money. It should be a force for good, a supporter of dreams, and a catalyst for growth. Over the years, we’ve dedicated not just our resources, but also our time and talent to countless initiatives that have strengthened our community.”

Schowalter went on to share, “As we celebrate this 125th anniversary, we’re not only reflecting on the incredible journey that brought us here, but we’re also looking ahead to what’s next. We are excited to continue our tradition of service, to innovate in ways that meet the evolving needs of our customers, and to keep making a difference in the community we all love.”

PWSB President/COO, James Schowalter, remarked at the dedication ceremony, “These contributions reflect our unwavering dedication to making Ozaukee County a better place to live, work, and play. As we celebrate this special milestone and give back more than $125,000 to these major park projects, we do so knowing that our success is deeply intertwined with the well-being of the communities we serve.”