Celebrating 100 years of helping succeed
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019001234567890 years & counting

In 1918, a local bank got its start.

In the 100 years since then, the Ixonia Bank commitment to serving customers, supporting their dreams and staying locally focused has given purpose to our success. Years ago, the bank president went to farm auctions with customers. Bank officers played in the local softball league. And Ixonia Bank was a place where neighbors banked with neighbors. Today, Ixonia Bank is growing to serve customers from Milwaukee to Madison. While our services and technology rival the big banks, the small-town fabric of our heritage sets us apart. We’re still a locally-owned and operated bank that provides stability and fiscal responsibility. And this year, we not only look back at our history, we’re also celebrating the successes of our customers.
Established
Timeline
1917 First
Meeting

First meeting to organize the bank with $10,000 of capital, with the stock to be sold for $110 per share

1918 Founded
  • The year the bank opened. We rented office space of approximately 20x40 ft, from the Cooperative Feed Mill.
  • The rent was $5 a month. Edward Pugh elected President - held office until Dec. 1925
1919 New
Building

Moved into new Bank building, 20x40 ft pressed brick, the lot had been purchased from Barker Lumber for $300

1925 President

E.C. Evans elected President

1929 Robbery

Cashier Rudolph Winters was forced to lie on the floor. $3,400 in currency from the counters and vault were taken. 24 Hours afterwards, all 5 members of the bandit gang end up in jail of their own confessions due to one of the members boasting. $3,000 of the loot was recovered.

1932 Hold Up

A holdup took place with 3 bandits escaping with $1,800 in cash and some securities. The cashier, R.E. Winter, was forced into the vault.

1933 President Resigned

H.E. Pugh was named President to replace E.C. Evans who resigned.

1934 New
President

E.G. Krueger named President

1934 FDIC

The Bank became a member of the Federal Deposit Insurance Corporation (FDIC). The maximum insurance for the deposits of each depositor was $5,000.

1934 Otto R.
Buelter

Future Ixonia State Bank President Otto R Buelter was hired as Cashier at $80 per month salary.

1941 new
president

Hubert Jaeger elected President following death of E.G. Krueger.

1942 US WAR
SAVINGS BONDS

Ixonia State Bank became an agent for the issuance of US War Savings Bonds.

1953 new president

Albert Jaeger named President following the death of Hubert Jaeger.

1955 new
building
  • Stockholders voted 225 to 0 to build a new bank building. The building was built, but needed FDIC approval to move which required the Bank to double its capital.
  • It was approved to have a 100% stock dividend which increased the Capital Stock to $50,000.
1955 Robbery
  • 3 armed robbers held captive Cashier, Otto Buelter and his family, in his home (one door east of the bank) for 6 hours.
  • The robbers were never caught. About $2,000 was taken in cash from the drawer in the vault. About 90 safety deposit boxes were smashed open with tire tools taken from Buelter’s garage.
1956 Bank
Moved

First drive-thru bank in Jefferson County.

1964 new
president

Otto Buelter became President.

1968 50th
ANNIVERSARY

Ixonia State Bank 50th Anniversary.

1975 BUILDING
ADDITION

A 400 square foot addition was added to current building to provide a larger lobby, more teller windows, additional office space, and Air Conditioning.

1981 NEW
PRESIDENT

Merlin Mallow named President. Merlin remained President until 1985.

1986 NEW
PRESIDENT

Phil Holland began as President

1990 NEW
BRANCH
OPENED

Watertown East Branch opened - Located at 109 Oakridge Court.

1993 Investment
Center

Investment Center introduced. Now able to offer customers wealth management services.

1993 75TH Anniversary

Ixonia State Bank 75th Anniversary.

1994 NEW
BRANCH
OPENED

Oconomowoc branch opened - Located at 1223 East Summit Avenue.

1996 Website

Our first bank website was launched.

1997 new branch
opened

Watertown South branch opened - Located at 1725 South Church Street.

2000 Merlin
mallow

Retired after 44 years of service to the bank and community.

2000 BRANCH
OPENED

Located at 491 North Main Street in Dousman.

2001 online
banking

Introduced.

2003 new
name

Changed name from Ixonia State Bank to ISB Community Bank which more accurately reflected our growing market coverage and community focus. The logo changed to symbolized the beauty of our bank’s birthplace - the flowing river and rolling hills of Ixonia.

2004 branch
opened

Lakes Plaza branch opened - Located at W359N5002 Brown Street.

2004 PHIL
HOLLAND

Was named “Outstanding Community Banker of the Year” by Community Bankers of Wisconsin.

2006 new
president

Jeff Knudtson offically named as President.

2007 REMOTE
DEPOSIT

Launched Remote Merchant Capture.

2007 NEW OFFICE

Opens just down the road from previous Ixonia Bank locations at W1046 Marietta Ave. The building is 33,000 square ft.

2008 90 YEARS

Ixonia Bank Celebrates 90th Anniversary.

2008 branch
opened

Located at 3201 Village Square Drive in Hartland.

2010 going
green

Launched eStatements.

2012 BRANCH
closure

After the close of business day, Lakes Plaza branch closed.

2012 new
president

Dan Westrope began as President.

2012 investment

Lubar Family Invests in ISB Community Bank. Majority Shareholders of Ixonia Bancshares.

2013 name
change

ISB Community Bank to Ixonia Bank. The “I” and “B” in the logo represent Ixonia Bank. As the only red element, the “I” reflects the uniqueness of Ixonia. (Ixonia, WI is the only Ixonia in the world.) We are proud to have our roots in Ixonia, and we embrace the idea of uniqueness as we move forward under our new name – Ixonia Bank.

2013 Website
launch

New website includes a mobile responsive design.

2017 new
president

Mark Wierman begins as President. Dan Westrope continues to lead as Chairman & CEO.

2017 Office
Opens

Madison Loan Production Office opens - Located at One Erdman Place, #401.

2018 reopened
office

Lakes Plaza branch.

Up Next 1930s

TODAY

& THE NEXT 100 YEARS

As a strong, solid independent bank, Ixonia Bank is locally focused. We also have the flexibility, technologies and resources to meet the banking needs of our customers, wherever they are in their financial journeys. For the next 100 years, it will still be our purpose to help people succeed and our communities prosper.

www.ixoniabank.com

Success
Stories

We help business owners operate successfully. By connecting them with a deep network of expert financial and business consulting resources, we help them succeed.
  • Basin
    Precision
    Machining
  • Heattek
  • Midwest
    Engineered
    Systems Inc.
  • TJM
    Innovations

Basin Precision
Machining

They understand my business and
are easy to do business with
Basin Precision Machining is a precision CNC contract machine shop that specializes in machined components and assemblies. They supply numerous parts for Harley Davidson motorcycles, hydraulic manifolds for construction and agricultural equipment, and large components for FHE RigLock, an innovative technology that increases both efficiency and safety in the oil drilling process.

Basin Precision Machining may be one of Ixonia Bank’s newest clients, but after only a few short months together, they find themselves with a solid foundation and a growing partnership. Erik Anderson became President of Basin Precision Machining in 2015 when his parents sold their family-owned business (then named Anderson Machining Service, Inc.) to Basin Holdings, who identified the value of Erik’s knowledge of the company and extensive experience in the industry.

Erik describes the beginning of his relationship with Ixonia Bank as “the smoothest, simplest process I’ve ever been involved in.” He credits the bank’s creativity in devising solutions, the quickly-developed rapport with his banker, and the knowledgeable leadership with a large portion of that successful process.

After meeting with 20+ banks, whom Erik says “smiled and nodded,” not quite understanding his business and its needs, he was made aware of Ixonia Bank. Early in the process, the bank showcased its resourcefulness by bringing in one of its Directors, a subject matter expert, who could talk the talk with Erik. Due to the bank’s unique approach, Basin’s business, their value, and what they required to grow quickly became clear.

Ixonia Bank provided Basin with the opportunity to continue to grow their business by securing them a working line of credit and a term loan on their equipment.

“It’s a pleasant change from what we’re used to,” Erik says, “They truly understand my business and their level of customer service is something that I’ve never quite seen before.”

Heattek

Partner for the long term, they know us
HeatTek is an industrial oven and furnace manufacturer servicing clients all around the globe. Their three chief industries, metal packaging equipment, electric motor/generator equipment, and custom equipment necessitate their spacious 60,000 square foot facility, where they design, and assemble the large industrial equipment that cures the coating on the inside and outside of beverages and food cans, and the wiring for hybrid/electric car motors parts and other custom heat processes.

On a cold winter night, after discussing their current employer and the upcoming expiration of their non-compete agreements, Craig Plowman and Richard (Dick) Schumann became business partners and formed HeatTek. Their original business cards were printed on a portable printer in a car en route to their first sales meeting in 2000. And the rest is history.

In the middle of a meeting with another bank, where they felt they weren’t being treated very well, Craig reminded Dick of a referral to Ixonia Bank they had received from a friend. The two concluded the meeting early and contacted Ixonia; within 24 hours of that first call, the process to build a larger facility for their growing operation had begun.

Over the past decade and a half, Ixonia has helped HeatTek navigate international business dealings and double the size of their facilities. They have also introduced them to valuable vendors and set up lines of credit as assurance when they needed to purchase materials and pay employees while products were being built for clients.

“I feel like we’re dealing with people (at Ixonia), we’re not a number, not just something on a spreadsheet, we’re people. And that’s how we sell our equipment,” says Craig, now sole owner of the business. “It isn’t all emails and reports. The bank calls us. We call them. It’s the personal touch.”

And that is something Craig certainly appreciates, especially now that his sons have started working in sales for the company they will someday run. With another facility expansion being forecasted, their eyes are comfortably set on the future. “We signed with Ixonia and never looked back.”

Midwest
Engineered
Systems Inc.

They view the whole relationship,
not just the parts
Midwest Engineered Systems Inc. (MWES) specializes in providing highly technical, custom automation equipment, web handling and robotic integration. Their office in Waukesha, Wisconsin employs the most RIA certified robot experts in the country. MWES works to create custom solutions for their client’s automation needs, including, additive manufacturing, assembly lines, palletizing/depalletizing, material handling, robotic welding, and fully automated production lines.

In 1991, Scott Woida, President and Founder, started MWES in his parent’s basement. A year and a half later, Scott and three employees moved into a building he purchased in Downtown Milwaukee. Today, he has a team of 150 team members who have worked to build over 4,000 innovative machines that have been installed worldwide.

Not everyone understands MWES’ innovative “one off” business. When the decision had been made to look for additional banking resources, Scott was introduced to Ixonia Bank. “Ixonia Bank took a different kind of look at our business; instead of viewing each part and piece they viewed the project as a whole. They brought in a team of people who spent time understanding our business and the value we are creating.” The line of credit Ixonia Bank has extended to MWES gives them access to the capital needed to continue to pursue and attract opportunities in the marketplace.

“We refer people to Ixonia Bank all the time. When customers are looking for a line of credit to make a new product or invest in making a product faster or better, I do my best to refer them to Ixonia,” Scott says. “The team at Ixonia Bank is progressive and forward-thinking which makes it easier to do business with them.”

TJM Innovations

Investing in women, helping companies expand and diversify
TJM Innovations, a certified Women’s Business Enterprise and a Women-Owned Small Business, is the manufacturer of GutterStuff®, a foam filter insert that eliminates the need to clean leaves and debris from gutters.

Julie and Ted McNamara started selling GutterStuff® in 2002 after a homebuilder they were working with introduced them to the revolutionary product he had invented. Although they started on a small scale, within a few years, they were creating packaging, being featured on popular local home improvement television shows, and selling their product in 40 local hardware stores. Their successful product was available at Costco a few years later, and today, GutterStuff® is on the shelves of The Home Depots, Lowe’s, and Walmart stores across the United States.

Thanks to help from Ixonia Bank, Julie and Ted McNamara were able to purchase their 104,000 square foot warehouse and the equipment needed to expand their business. They are now equipped to self-produce foam for the products they design, engineer, manufacture, and distribute, while diversifying their business by offering batch mixing, foam fabrication, and heat treating to their clients.

“We are very grateful to Ixonia,” Julie had to say of their relationship with the bank. “They allowed us to take this leap from fabricator to manufacturer, which saves us a lot of money and allows us to bring in new industries.” Ted added, “They have helped us to diversify into new products and new markets, making us a better company overall.”

TJM Innovations has made strategic business decisions that have had a positive impact not only on their finances, but also on the environment and their community. They use recycled paint as a UV protectant on GutterStuff® and the majority of their workforce is hired from the Transform Milwaukee state job program. In exchange for the subsidization of these employees’ wages, Julie and Ted offer the workers experience and mentoring, something invaluable to those who, previously, have had a difficult time finding employment (most being newly released from prison).

Julie admires Ixonia Bank for valuing women-owned business and the support they show for their community, saying “we’re happy they invest in women, Milwaukee, and its people.” That’s something she knows a lot about.