The first bank in Appleton was opened by Lanthrop & Ireland as a private institution on Saturday September 11th 1880. J.M. Heal of Mauston, Wisconsin cam e here in the summer of 1884 to open a second private bank to be known as the Farmers and Merchants State Bank, with E.A. Burage as cashier.
What happened to the later institution is not disclosed in the newspaper files, but in 1890 the Lathrop & Ireland bank held in the field exclusively and the newspaper reflected the opinion of a group of local people who felt a second bank was needed here. Organization of one was started.
The operating bank met this situation by incorporating as the State Bank of Appleton and building the structure pictured at the top for its quarters. (This building now stands empty.)
This action deferred the opening of a second bank for a year, but in the fall of 1891, the
Citizens State Bank was incorporated and opened for business in the building , which was built specifically for it. The Citizens State has since changed names several times. It later became the Appleton State and the Bank of Appleton, First National, Northwestern,
Prairie State Bank and now Prairie