Bank of Breda of Frazier and Frazier originated on August 4, 1890. The Breda, IA, bank had its first depositor the following day, and one month later, the bank had ten depositors. Records indicate that the bank was paying 8% interest on Time Certificates in September 1896.
The bank was incorporated on January 17, 1906, and the name changed to Breda Savings Bank. On August 14, 1906, Officers and directors were Frank Van Erdewyk, Leo F. Snyder, J.H. Ricke, G. Von Glan, Gerhard Lammers, and John Olerich. Frank Van Erdewyk served as an officer for over 49 years. Breda Savings Bank has been a part of the Van Erdewyk family for over a century and four generations. Frank Van Erdewyk was the first Generation at Breda Savings Bank. His son, M.F. Van Erdewyk, joined Breda Savings Bank in 1920. M.F. Van Erdewyk's son, G.A. Van Erdewyk, became part of the Breda Savings Bank in 1961, and G.A.'s son Mike Van Erdewyk joined Breda Savings Bank in 2008.
The original brick building was located on the corner next to the present bank building. Breda Savings Bank made plans to erect a new building, and in 1922 the building was moved to its present site so the new edifice would be on the original site. With the advent of the Great Depression years, which was considered the most critical period in banking history because several banks failed during this period, Breda Savings Bank dropped its plans.
Breda Savings Bank stands at the same Western Iowa location as it did in 1922 at 105 Main Street in the city of Breda. We are proud to be serving the local community since 1890 and remain:
Large enough to serve you
We will offer you a broad range of banking products. The BSB staff will continue to develop the product options to serve your financial needs and support the local community. Some of our current product offerings include:
Strong enough to protect you
In exchange for your trust in us, we are maintaining a well capitalized bank with disciplined management and local ownership. We are safeguarding your accounts with a portfolio of strong asset quality and liquidity. Public information on our current statement of condition can be found at www.fdic.gov or www.bankrate.com.
Small enough to know you
Our customers are our friends and neighbors. We are happy to be banking with you on a first name basis and serving your financial service needs.