HISTORY

First National Bank has had a long and interesting past. Some would say that First National originated with the name of Old National Bank, which started in 1885, when the City of Waupaca was just a pup, and the entire area was still being settled. By today’s standards, the total assets of the bank in 1885 of $210,000.00 would not even be considered a large loan to one customer. However, as has been said, an oak tree starts from the humble origin of an acorn. First National Bank remained primarily a single-town local bank, serving the needs of the surrounding area for many years, until 1986, when First National infused with a new ownership group, decided to expand. The first acquisition was only 10 miles away in the Village of Iola. First National Bank acquired First State Bank of Iola and brought the total assets to over $50 million, however, more was to come. After successfully incorporating the new purchase, First National Bank looked a little further away and purchased a branch in Chetek, Wisconsin, which was 150 miles away, bringing total assets to $100 million at that time. First National Bank also purchased a computer system, which enables the bank to capture data at remote locations and process the data at the main office using dedicated phone lines. This innovation set the scene for long distance expansion. First National Bank then recognized opportunities available in Texas as the state went through a significant banking overhaul in the late 1980’s and early 1990’s. First National Bank acquired National Bank of Commerce in Pampa, Texas, and pushed total assets to over $200 million in early 1996. First National Bank used the same technology as used in the Chetek acquisition and was able to process all the data at the main frame in Waupaca, Wisconsin. Following the Pampa acquisition, First National Bank acquired First Bank and Trust of Shamrock, Texas, in 1998 and opened a branch in Weyauwega, Wisconsin, also in 1998, pushing First National Bank over $300 million by 1999. Early in 2001, First National bank acquired a branch in Childress, Texas, making First National Bank a bank with 7 locations with assets of $410 million. First National Bank focused on internal growth and pushed over $500,000,000 in the 3rd quarter of 2007. However, First National Bank was in the process of a new acquisition and plans to acquire Dairymans State Bank with offices in Clintonville, Marion, Seymour, and Shiocton. The new acquisition will give First National Bank total assets of approximately $625,000,000 in 2008. First National Bank continues to regard Waupaca as home, but considers the branch locations of Iola, Weyauwega, Clintonville, Marion, Seymour, Shiocton, and Chetek, Wisconsin, and Pampa, Shamrock, and Childress, Texas, as part of the family at First National Bank.