Union Bank & Trust Company

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Concerts in the Park

Sponsored by Union Bank & Trust Company

Our summer concert series was once again a huge success,
featuring the following entertainment:

 

June 20th	June 27th
Evansville Community Band	The Dang-Its
July 11th	July 18th
Evansville Community Band	Heatwave The Rock County 4-H Show Choir
July 25th
Kweku Ananse and the Sweet Vibrations African Rhythms Band

Join Us For An Old Fashioned Concert in the Park!

All concerts begin at 6 PM at Lake Leota.

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Union Bank & Trust Company's Proud Past

Union Bank & Trust Company has a long and proud history. Established originally in 1897, the Grange Bank was purchased by Gertrude Eager in 1916, and Leonard P. Eager began his banking career. There were two other banks in Evansville at that time, the Bank of Evansville and the Farmers and Merchants State Bank. The Grange Bank was the smallest, having total deposits of $155,000.

In 1925, the Bank of Evansville closed. The Grange Bank increased its capital stock from $15,000 to $50,000, and purchased the building formerly occupied by the Bank of Evansville, located at the present site of Union Bank & Trust Company. The name of the bank was changed from the Grange Bank to the State Bank of Evansville.

In 1932, the State Bank of Evansville and the Farmers and Merchants State Bank merged, and the name of the bank became Farmer's & State Bank. Then in 1940, the bank began to offer trust services and the name was changed to Union Bank & Trust Company, which it has remained for 50 years.

In 1952 it was again time to grow. The bank's deposits now exceeded $3,000,000. Some remodeling was done and a new two-story granite and glass brick structure was erected.

The bank continued to grow and prosper, and by 1968, the facilities were again deemed too small. It was again time to expand. There were 15 employees, and the bank's deposits were $7,000,000.

The switch to computerized bookkeeping began in 1969 with demand deposit accounts, and all other departments of the bank followed in the next few years.

In 1979, the motor bank was built. The increased use of the facility through the years has proven that this, too, has helped meet the changing needs of the community.

In January 1989, the bank purchased an in-house computer so that we could do our own processing. The system has resulted in more efficient record keeping and better management tools, and the flexibility to meet the ever-changing needs.

The bank installed its first cash dispenser Tyme machine at the Evansville Gas n Go in 1992. This allowed our customers and non-customer the opportunity to obtain cash after banking hours. Since that time, we have installed three additional machines within our market area.

In 1996, after 99 years of offering banking services in one community, an opportunity presented itself to open a branch in Brooklyn. In May of that year, the Brooklyn facility along with most of its deposits and loans were purchased from M & I. With that acquisition, the bank's asset size grew from $43,000,000 to $58,000,000 and the number of employees grew from eighteen to twenty-four.

In March of 1997, bank management decided to open a new branch in the Village of Belleville. We opened for business that month in a mobile home bank. It wasn't fancy, but the bank grew rapidly and so management decided to begin making plans for a new building.

In June of 1997, the Union Bank & Trust Company celebrated its Centennial. It was a big event that was celebrated at all of the branches. Governor Tommy Thompson came to Evansville to commemorate the event along with a brass band.

In early 1998, bank management decided to build a new facility in Belleville to emphasize our commitment to that community and to accommodate the anticipated growth there. The facility was completed in June of 1998. By that time, the bank's assets were $70,000.000 and the number of employees were twenty-eight.

In 1999, it was decided to address the increased flow at the motor bank in Evansville. It was decided to expand the motor bank from 2 to 4 lanes. The project was completed in the fall of 1999.

Internet banking became available by the end of 1999, which completed a very active year for us, just in time to welcome the new millennium.

In 2002, the bank hired a mortgage lender to service our trade area from his car.  As bank management began to see that he was becoming effective, particularly in the Oregon market, the bank's interest in the Oregon area increased.

  In April 2003, the bank chose to lease an office on Janesville Street in which to market our mortgage and commercial loans out of.  Due to the success we experienced we expanded to a full service office in May 2003.

Also in 2003, construction began on 6 E Main Street in Evansville.  6 E Main Street doubled the present size of Union Bank & Trust Company from 8,000 square feet to 16,000 square feet!  UB&T is restored 6 E Main in a manner to preserve its historical value.  The new addition houses UB&T management and  human resources on the first floor as well as an expanded loan processing department on the second.  Click here to view the progress! 

In November 2005 we broke ground for our new office in Oregon. This office will break completely with traditional Bank designs. There will be no Teller Line. The Drive Up will be serviced by Remote Teller Systems utilizing video/audio technology.

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Union Bank & Trust Company 2003 Annual Report For the year 2003, the overriding theme was growth. The bank’s loans and deposits both increased at a very healthy rate, as you will see from the enclosed figures. The Evansville office doubled in size with the acquisition and remodel of the adjacent building at 6 E. Main St. Our fixed rate mortgage portfolio grew dramatically during a period of historic low interest rates. We also opened an office in another vibrant community, the Village of Oregon. The bank’s profitability also increased at a healthy pace. Our two newest lenders, Jeff Malaise and David Ebert brought in a lot of business. Our loan processors worked very hard to keep up with the increased loan demand under very cramped conditions. Of course, all of the staff worked hard to make us successful. We appreciate their efforts and our customers’ loyalty to our institution. —Christopher A. Eager, President The Management Team As our customers’ families and businesses flourish, their needs also grow. Recognizing this, Union Bank & Trust Company has worked to meet those needs for over 100 years while managing to keep the friendly, personal atmosphere we feel a local bank should offer. Our commitment to customer service has led to growth within our own family with the addition of a new bank and expansion into new office space at our main bank in Evansville. We feel our growth is a celebration of our customers’ growth, and we appreciate it.

The Union Bank & Trust Company Family The Bank of Oregon Staff Growing for the Future while Restoring the Past As a sign of our growth, the management offices have been moved into the expanded space in Evansville. Great efforts were taken to design the addition with authenticity and restore as many of the details from the original structure as possible, illustrating our commitment to Evansville’s historic downtown. We’re proud of this effort and invite you to visit. ABOUT US TOP OF PAGE

Condensed Statement of Condition RESOURCES DEC. 31, 2002 DEC. 31, 2003 Cash & due from Banks $2,313,000 $3,042,000 US Treasury Securities $1,964,000 $1,339,000 Obligations of US Government Agencies $9,305,000 $5,589,000 US Agencies Guaranteed Mortgage Certificates $5,094,000 $5,378,000 Obligations of State and Political Subdivisions $15,281,000 $16,208,000 Other Securities $2,681,000 $1,619,000 Federal Funds Sold $1,242,000 $0 Loans & Discounts $55,612,000 $62,760,000 Less Reserves ($891,000) ($981,000) Bank Premises, Furniture, Fixtures $2,199,000 $3,607,000 Other Assets $4,752,000 $4,944,000 total $ 99,552,000 $ 103,505,000 LIABILITIES DEC. 31, 2002 DEC. 31, 2003 Capital Stock $200,000 $200,000 Surplus $2,050,000 $2,050,000 Undivided Profits $6,608,000 $7,236,000 Net Unrealized Gains(Losses) on AFS Securities $710,000 $569,000 Demand Notes Issued to US Treasury $595,000 $507,000 Other Borrowed Money $6,000,000 $8,000,000 Other Liabilities $761,000 $809,000 Federal Funds Purchased/Repurchase Agreements $802,000 $768,000 Deposits $81,826,000 $83,366,000 total $99,552,000 $103,505,000

Comparative Statement of Earnings & Expenses OPERATING INCOME DEC. 31, 2002 DEC. 31, 2003 Interest & Discount on Loans $4,393,000 $4,107,000 Interest & Dividends on Investments $1,322,000 $1,320,000 Other Income $1,119,000 $1,335,000 b $6,834,000 $6,762,000 OPERATING EXPENSES Salaries & Employee Benefits $1,783,000 $2,148,000 Premises/Fixed Asset Expenses $374,000 $394,000 Other Expenses $769,000 $1,015,000 Interest Expense $2,318,000 $1,831,000 Loss/(Gain) on Securities ($4,000) ($59,000) b $5,240,000 $5,329,000 OPERATING PROFIT $1,594,000 $1,433,000 Transfer to Reserve for Possible Loan Losses $123,000 $166,000 Taxes $299,000 $39,000 NET PROFIT $1,172,000 $1,228,000 RECONCILIATION OF UNDIVIDED PROFITS Balance, Undivided Profits, end of previous year $6,348,000 $6,608,000 Net Income (as above) $1,172,000 $1,228,000 Dividends Paid ($912,000) ($600,000) Sale, conversion, acquisition or retirement of Cap. Stock 0 0 Transfer to Surplus 0 0 b $6,608,000 $7,236,000 RESERVES Reserve for Bad Debts, end of previous year $744,000 $891,000 Increase by Recoveries, Loans $42,000 $60,000 Transfer from Income $123,000 $166,000 Decrease by Charge-Off Loans ($18,000) ($136,000) b $891,000 $981,000 ABOUT US TOP OF PAGE © Union Bank & Trust Company