Denmark Bancshares
| Company type | Private |
|---|---|
| Industry | Banking |
| Founded | 1909 |
| Headquarters | Denmark, Wisconsin , United States |
| Products | Banking services |
Denmark Bancshares operated as a regional bank holding company in the United States, headquartered in Denmark, Wisconsin. It functioned as the parent corporation of Denmark State Bank for over a century.
By December 31, 2021, Denmark Bancshares reported total assets amounting to $70,249,000. During the same timeframe, Denmark State Bank disclosed assets totaling $685,749,000 alongside liabilities of $621,153,000. The institution maintained membership with the Federal Deposit Insurance Corporation. On January 19, 2022, Bank First, based in Manitowoc, announced the acquisition of Denmark State Bank, resulting in a merged organization valued near $3.6 billion. The transaction anticipated regulatory clearance by August 13, 2022, with finalization planned for that weekend.
History
Established in 1909, Denmark State Bank's inaugural president was Mitchell Joannes from Green Bay. Prior to his presidency, George DeBroux held the position of cashier. The bank broadened its footprint by inaugurating its initial branch in Bellevue, Wisconsin in 1969 and later expanded through the 1986 purchase of Maribel-Whitelaw Bank, which included branches located in Maribel, Wisconsin and Whitelaw, Wisconsin.
1949 Bank Robbery
On March 3, 1949, three individuals committed a robbery at Denmark State Bank. They forcibly detained bank president George DeBroux at gunpoint and locked nine customers and employees inside the vault. The thieves absconded with nearly all of the $38,000 available on site. In response, local citizens organized an armed posse while county officials established checkpoints within a 50-mile radius. The FBI became involved and applied fingerprint techniques to identify suspects. This incident represented Brown County’s first recorded bank robbery.
The FBI focused on ringleader Walter Swiedarke, who managed a gas station and used car dealership. An agent verified stolen currency by matching serial numbers during purchases made at Swiedarke’s establishments. Swiedarke was apprehended during negotiations for a vehicle purchase by a coalition of the district attorney’s office, FBI agents, county sheriff deputies, and local police officers. Additional accomplices were captured over the subsequent days.
FDIC charter information
Denmark State Bank has maintained FDIC insurance since January 1, 1934, operating under certificate number 13420.