American Exchange Bank
| Company type | Private |
|---|---|
| Industry | Banking |
| Founded | 1871 |
| Founder | John J. Suhr (as Deutsche Bank) |
| Headquarters | Madison, Wisconsin , United States |
| Products | Banking services |
The American Exchange Bank represents a business edifice constructed in 1871 in Madison, Wisconsin, designed in the Italian Renaissance Revival architectural style. It stands as one of the few remaining buildings of this style on the Capitol Square. In 1980, it was officially listed on the National Register of Historic Places. Earlier, in 1975, the Madison Landmarks Commission recognized it as a landmark.
History
Before the bank's establishment, the location served as the venue for Wisconsin's territorial legislature's third session in 1838, which convened at the American Hotel. This assembly had relocated from Belmont and Burlington due to changes in territorial boundaries and accommodation needs, temporarily setting up in Madison while the initial capitol building was being erected. The American Hotel itself was newly constructed on this site in 1838.
Following the destruction of the hotel by fire, Dr. J.E. Baker engaged Colonel Stephan Vaughn Shipman—renowned for his work on Madison’s second state capitol dome, Post Office, and Dane County Courthouse—to design a new commercial block. Finished in 1871 with an expense of $30,000, this sandstone building showcased Italian Renaissance Revival characteristics, including a rusticated ground floor, a prominent cornice, paired arched windows adorned with keystones, and originally featured decorative urns and finials. Early occupants comprised Park Savings Bank along with various retail shops and offices.
In 1881, ownership transferred to the First National Bank, which undertook renovations in 1911. These modifications extended the structure eastward along East Washington Street and involved removal of much of the original cornice detailing. Interior elements such as gold marble wainscoting, teller booths, and a copper ceiling likely originated during this period.
The American Exchange Bank acquired the property in 1921. This institution was initially founded in 1871 under the name Deutsche Bank by John J. Suhr, a German immigrant; it adopted its current name during World War I to broaden its appeal.
A fire during the 1940s caused demolition on the Pinckney Street side of the building, resulting in its present reduced footprint. Despite this alteration, the American Exchange Bank remains an uncommon example of late 19th-century multi-story sandstone commercial architecture that characterizes Madison’s Capitol Square.
Further reading
- contains an 1895 photograph depicting the cornice decorations.
- East Washington Avenue from the Wisconsin State Capitol at WHS displays the entire building as it appeared in 1934 prior to a fire in the 1940s that destroyed half of it.