Gateway State Bank

Gateway State Bank was chartered in 1907 as Gooselake Savings Bank by Henry Kruse, Adolph Kruse, George Schaefer, and G.G. Boothby. In 1936, the bank took over the failed Charlotte bank and began operating it as a branch. Gooselake Savings Bank was operated by Ollie Walker, and later by Bob Wede. In 1980, Bob Wede moved the bank charter from Goose... Lake to Clinton and renamed the bank Gateway State Bank. Mr.Wede purchased the 1st floor of the old LaFayette Hotel building for the main bank location. A drive-up facility was built across the street. The offices in Goose Lake and Charlotte were retained as branch offices of Clinton. In 1986, Bob sold the bank to Floyd England. Ohnward Bancshares, Inc. purchased Gateway State Bank in 1998. Ohnward invested in facility improvements at each of the bank locations. This included renovation and painting of the ballroom which was well known in the heyday of the LaFayette Hotel. To better serve the Clinton market, in 1999, the main office of Gateway State Bank was moved from 601 South 2nd Street to its current location at 1427 N. 2nd Street. This location was a vacated Firstar branch and was well suited as a main bank location. At the time of Ohnward's purchase, Gateway State Bank had ATMs in Goose Lake and Charlotte, but did not have an ATM in Clinton. GSB has installed various ATMs in the Clinton market since this time and began offering Internet Banking in 2000. On August 25, 2008, Gateway State Bank opened a full-service branch facility in Clinton at 2600 Lincoln Way. This facility will help serve customers in Camanche and on the west side of Clinton. On October 1, 2013, it was decided to close the Charlotte Branch of Gateway State Bank. The decision was based on the strategic plan to service the financial needs of both the Charlotte and Goose Lake markets with the full service facility in Goose Lake.Read More