What We've Been Up To
The Tri-County Bank and Butte State Bank to Merge under TCB Name
Butte State Bank has signed a merger agreement with The Tri-County Bank of Stuart. Following the close of the transaction, all banks will operate under The Tri-County Bank name. Butte State Bank was chartered in 1944 and owned by three generations of the Brewster family. Joe (Vera) Brewster purchased controlling interest of Butte State Bank in 1963 from Pete Anderson. In 1971, Dennis and Jane Brewster purchased the bank from Joe and Vera. In 1999, Craig and Tammy Brewster purchased controlling interest of the bank, making Craig the third generation of the Brewster family to be the bank’s President.
The Tri-County Bank was chartered in Stuart in 1945 by Joe (Vera) Brewster and a group of local investors. Joe sold the bank to Don and Sally (Brewster) Schmaderer in 1979. Don transferred his ownership to Jon (Jennifer) Schmaderer together with siblings Nancy (Scott) Steinhauser and Sue Anne (Brad) Philson in 2021. The bank continues to operate with its fourth generation of community bankers: Joel Steinhauser, Tate Schmaderer, and Claire Steinhauser serve critical roles in the organization.
Butte State Bank President Craig Brewster stated, “the merger of the banks allows the Brewster family heritage to continue providing banking services to the region especially for Boyd County, northern Holt County, and south central South Dakota, as it has for the past 63 years. The Tri-County Bank’s philosophy, deposit and lending product offerings, and technology will be a nice fit for current and future bank account holders and borrowers.”
Current Butte State Bank staff will be retained and will continue to provide high quality service to its customers as it has for the past 82 years. Butte State Bank has locations in Butte and Spencer with remote ATMs at the Naper Café in Naper and BASCO Travel Plaza in Spencer.
Butte State Company, owner of Butte State Agency, has agreed to sell the insurance agency operations to The Tri-County Company. The Butte State Agency name will remain the same and continue to provide a wide variety of insurance products including crop, livestock, farm, business, home, auto, and health, life, and long-term care. Butte State Agency employs three full-time licensed agents and an administrative assistant.
Jon Schmaderer, President of The Tri-County Bank, shares, “We are excited to welcome two great companies, the Butte State Bank and Butte State Agency, into our organization. The opportunity for our family to continue to serve Boyd County and the surrounding area is a tremendous honor.”
The Tri-County Bank currently has full-service banking offices in Stuart, Atkinson, O’Neill, and Bassett and its brands include TCB Mortgage, TCB Insurance, and TCB Investments. The Butte State Agency name will be added to its brand following the merger.
Washington, D.C. (March 31, 2023)—The Independent Community Bankers of America® (ICBA) today announced that Jon Schmaderer, President & CEO of The Tri-County Bank, Stuart, Nebraska was elected to serve on ICBA’s Rural America and Agriculture Committee. ICBA is the nation’s voice for community banks and is committed to its founding mission to create and promote an environment where community banks flourish.
“As a financial steward of our communities and advocate for the community banking industry, I’m proud to support ICBA’s efforts to highlight the important role community banks serve both locally and in our nation’s economy,” Schmaderer said. “As relationship lenders, community banks remain focused on the needs of their customers, and work hard to earn and retain their trust every day. I’m proud to be a community banker and to be called to serve to help grow our industry’s legacy for future generations.”
In addition to helping shape and promote ICBA’s national policy positions and programs, Schmaderer’s duties include engaging in grassroots activities in Nebraska to advocate pro-community bank policies and serving as a liaison between community banks and ICBA staff and leadership in Washington, D.C.
“Jon is a respected civic leader and community banker who has graciously volunteered his time and resources to advocate and promote the important role of community banks in our financial system,” said ICBA Chairman Derek Williams, President & CEO of Century Bank & Trust in Milledgeville, Georgia. “We are honored that Jon has accepted this appointment and extend our heartfelt appreciation for his ongoing efforts to ensure the future of community banking remains bright.”
About ICBA
The Independent Community Bankers of America® creates and promotes an environment where community banks flourish. ICBA is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and high-quality products and services.
With nearly 50,000 locations nationwide, community banks employ nearly 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding more than $5.8 trillion in assets, over $4.8 trillion in deposits, and more than $3.5 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.
Bassett, NE (December 28, 2021) – The Tri-County Bank (TCB) is pleased to announce the construction of a new replacement facility in Bassett, Nebraska. The new building will be located at 606 South Clark Street, at the intersection of Highways 20 and 183 and provide banking, insurance and financial services with a drive-thru window and Interactive Teller Machine (ITM). The ITM service is an innovative banking technology that will allow customers to interact with TCB staff via video while conducting standard financial transactions at the drive-thru window.
Nancy Steinhauser, Chief Risk Officer and Bassett Branch Manager noted, “Our existing facility provides excellent office space, but not great ‘bank’ space. We felt strongly a new facility was the best way for our team to continue to deliver important financial services to our existing and future customers. We continue to work with community members to determine the best use of our existing facility.”
The new building will be approximately 3,500 square feet and includes modern conveniences in a comfortable and professional environment. In addition, parking space will be sufficient to accommodate a variety of vehicles.
The Kirk Gross Company, based out of Cedar Rapids, Iowa is the General Contractor working with a number of local sub-contractors to complete the project. Construction is scheduled to conclude and TCB is to be fully operational in its new facility by September 1, 2022.
Jon Schmaderer, President and CEO of TCB Board of Directors stated, “This is an opportunity for us to enhance the level of financial services we offer to our KBR area, while making a positive impact on our community.”
About The Tri-County Bank
Founded in 1945, The Tri-County Bank (TCB) is an independent community bank with locations in Stuart, Atkinson, Bassett and O’Neill, Nebraska. TCB provides traditional banking services in addition to mortgage, insurance, and non-insured investment products that support individuals, home owners, businesses, and the agricultural community. Member FDIC, Equal Housing Lender.
About The Kirk Gross Company
Kirk Gross Company is a multi-disciplined organization with professionals providing planning, designing, building, and furnishing solutions for office environments in a One Source process. The Kirk Gross Company has been specializing in commercial construction projects since 1937.
In 2020, TCB celebrated 75 years of community banking. TCB recognized its customers through a special gift presentation.
The Tri-County Bank and Butte State Bank to Merge under TCB Name
Butte State Bank has signed a merger agreement with The Tri-County Bank of Stuart. Following the close of the transaction, all banks will operate under The Tri-County Bank name. Butte State Bank was chartered in 1944 and owned by three generations of the Brewster family. Joe (Vera) Brewster purchased controlling interest of Butte State Bank in 1963 from Pete Anderson. In 1971, Dennis and Jane Brewster purchased the bank from Joe and Vera. In 1999, Craig and Tammy Brewster purchased controlling interest of the bank, making Craig the third generation of the Brewster family to be the bank’s President.
The Tri-County Bank was chartered in Stuart in 1945 by Joe (Vera) Brewster and a group of local investors. Joe sold the bank to Don and Sally (Brewster) Schmaderer in 1979. Don transferred his ownership to Jon (Jennifer) Schmaderer together with siblings Nancy (Scott) Steinhauser and Sue Anne (Brad) Philson in 2021. The bank continues to operate with its fourth generation of community bankers: Joel Steinhauser, Tate Schmaderer, and Claire Steinhauser serve critical roles in the organization.
Butte State Bank President Craig Brewster stated, “the merger of the banks allows the Brewster family heritage to continue providing banking services to the region especially for Boyd County, northern Holt County, and south central South Dakota, as it has for the past 63 years. The Tri-County Bank’s philosophy, deposit and lending product offerings, and technology will be a nice fit for current and future bank account holders and borrowers.”
Current Butte State Bank staff will be retained and will continue to provide high quality service to its customers as it has for the past 82 years. Butte State Bank has locations in Butte and Spencer with remote ATMs at the Naper Café in Naper and BASCO Travel Plaza in Spencer.
Butte State Company, owner of Butte State Agency, has agreed to sell the insurance agency operations to The Tri-County Company. The Butte State Agency name will remain the same and continue to provide a wide variety of insurance products including crop, livestock, farm, business, home, auto, and health, life, and long-term care. Butte State Agency employs three full-time licensed agents and an administrative assistant.
Jon Schmaderer, President of The Tri-County Bank, shares, “We are excited to welcome two great companies, the Butte State Bank and Butte State Agency, into our organization. The opportunity for our family to continue to serve Boyd County and the surrounding area is a tremendous honor.”
The Tri-County Bank currently has full-service banking offices in Stuart, Atkinson, O’Neill, and Bassett and its brands include TCB Mortgage, TCB Insurance, and TCB Investments. The Butte State Agency name will be added to its brand following the merger.