American State Bank (Berwyn, Illinois) facts for kids
Quick facts for kids |
|
|
American State Bank
|
|
 |
|
 Location in Illinois
Location in the United States
|
|
| Location | 6801 Cermak Rd., Berwyn, Illinois |
|---|---|
| Area | 0.1 acres (0.040 ha) |
| Built | 1925 |
| Architectural style | Classical Revival |
| NRHP reference No. | 00000951 |
| Added to NRHP | October 5, 2000 |
The American State Bank building is a historic landmark in Berwyn, Illinois. It was also known as the First American National Bank and the Berwyn National Bank. This building played a big role in Berwyn's growth and its connection to people from Central Europe. It was built in 1925.
Contents
A Look Back at Berwyn's Growth
How Berwyn Grew and Attracted New Families
Berwyn, Illinois, became an official town in 1902. By 1910, over 5,800 people lived there. This number grew to 47,000 by 1930! This fast growth happened because of factories in nearby Cicero. These factories brought many new people, including immigrants, from Chicago to the suburbs.
Berwyn became a popular place for Czechs to settle. Many Czech families moved from Chicago to Berwyn. These families often had good jobs and were skilled workers. They formed groups called building and loan associations. These groups helped finance, or pay for, new homes and buildings in Berwyn. Joseph Cermak and Albert Novotny bought a lot of land, which helped the town grow even more. New banks were needed to help people get loans for their homes.
The American State Bank's Story
Starting the Bank and Helping Homeowners
The American State Bank was started by Frank Topinka in October 1925. For a short time during its planning, it was called the Twenty-Second Street Bank. It was one of five banks in Berwyn at that time.
Between 1921 and 1928, over $5 million was spent on building homes, apartments, and stores in Berwyn. The American State Bank helped pay for about $2 million of these projects through loans. Frank Topinka also ran two other banks: the Oakwyn State Bank in Berwyn and the First State Bank of Fox River Grove. By 1929, the American State Bank had about $1.9 million in assets.
Facing the Great Depression
The Wall Street Crash of 1929 was a major event that caused big problems for the American State Bank. In 1930, the American State Bank joined with other banks. These included the Ridgeland State Bank, the Oakwyn, and the First National Bank & Trust. They hoped this would help them stay in business. They operated together in this building as the First American National Bank & Trust.
However, the bank was placed into receivership in 1932. This means the government took control because the bank was in trouble. During the Great Depression that followed, every bank in Berwyn closed. No banks operated in the town until July 1937. That's when Frank Skala opened the Berwyn National Bank in the same building that used to be the American State Bank.
A Recognized Historic Building
On October 5, 2000, the building was officially recognized by the National Park Service. It was added to the National Register of Historic Places. This list includes important historic places across the United States. In 2008, the building was also named a Berwyn Historic Landmark. The Berwyn State Bank Building received this honor too.
