Chartered in 1906, the Burton State Bank was founded by C. W. Homeyer (1855-1932), who also served as first bank president. Members of the first Board of Directors included Thomas Watson, H. Knittel, Ed Schatz, I. N. Carmean, W. Bauer, and O. A. Schatz. The Burton State Bank was closed during the Great Depression of the 1930s for three days, was found solvent, and reopened. The bank was located at this site from 1906 until 1965, when it was moved to a new building.