There has been a bank in this building since nineteen-oh-nine, when the Marceline State Bank opened it’s doors. Over many decades, the building interior was remodeled with the latest office and security features. A new bank front and improvements on the Howell Street side-wall were made in nineteen-thirty. The Marceline State Bank had a long history, almost seventy years, though it wasn’t always easy.
In the wake of the nineteen-twenty-nine stock market crash, American depositors began to panic and seek refuge by holding onto physical cash. Bank runs happen when a large number of people start making withdrawals from banks because they fear the institutions will run out of money. A bank run is typically the result of panic rather than a banks imminent collapse. And the massive withdrawal of cash during a panic will lead to a banks failure. The first bank failure due to mass withdrawals occurred in 1930 in Tennessee. This seemingly minor and isolated incident, however, spurred a string of subsequent bank runs across the South and then the entire country, as people heard what happened and sought to withdraw their own deposits before they lost their savings. Thousands of banks failed in the United States.
In November of nineteen-thirty-one, the Marceline State Bank’s remaining contemporary was closed. But thanks to local citizens and businesses who supported their one remaining bank in town, the Marceline State Bank was able to survive the troubles. Instead of a run on the bank occurring, the Marceline State Bank made a good gain in deposits and pulled through.
The Marceline State Bank stayed open under this name until nineteen-seventy-eight, when its name changed to American Bank of Marceline. Since then, the bank names have changed with time, but there has been a bank in this building for over one-hundred-and-ten years.