Bank History

The State Bank of Riverdale was founded in 1907. Charley Pratt started in the bank as cashier and eventually acquired ownership of the bank. Charley served as president for several years until his death. At that time his son LaVerne Pratt became president until his passing in 2001. LaVerne’s son Tim, who had worked in the bank for many years, became President and continued in that capacity until his retirement in December 2009. The bank’s 100th year anniversary celebration was held during the summer of 2007, complete with a tent in the street, barbeque, and Root Beer floats in a commemorative Root Beer mug for everyone. The bank has its long time loyal customers to thank for this wonderful record.

Not having any additional family members desiring to return to bank management, the bank was sold to a small group of mid-Nebraska individuals with many years of Nebraska banking experience. One of the investors, Phil Jossi, began as President of the bank in January 2008 working along-side Tim Pratt during a two year transition period. During this time several new products were added, moving the bank from a limited product offering into a full service institution offering a wide array of financial products. This transition was received enthusiastically by the bank’s loyal customer base accounting for a 100% increase in the deposit base from $22 million in January 2008 to $59 million as of December 2011.

An opportunity to open a loan office in Ord, Nebraska, presented itself in January 2010. This opportunity came to the bank including an experienced agricultural loan officer with many quality relationships in the Ord area. The implementation of the office added many new banking relationships who are becoming accustomed to the high level of service offered by the bank. An additional step to solidify and serve the bank’s customer base in Kearney, was the opening of the full service branch that opened March 1st, 2011.

With a long history of strength, stability, safety, and service, the future is bright for State Bank of Riverdale and its loyal customers. Local ownership, local decision making, and quality people will combine to continue the tradition of creating superior long term customer relationships.