Industry in Austin County, Texas — The American South (West South Central)
Industry State Bank
On February 11, 1911, a group of local citizens took the first steps in forming a bank to be called First Guaranty State Bank of Industry. Dr. B.E. Knolle served as the bank's first president and E. Lindemann served as first vice president. By June of that year, the bank opened for business at 1559 Main Street. Shareholder and cashier H.L. Schulze served as the bank's only salaried employee, while his assistant H.H. Boelsche received hourly pay. In September 1919, Schulze's daughter, Thusnelde, was hired by the bank and she continued as an employee for 49 years, until her retirement in 1968.
When H.L. Schulze died in 1926, Boelsche was named as his replacement. Boelsche managed the bank until his death in 1956, when Arno Krebs became the bank's president. Because of a change in the Texas banking structure, the bank's name was changed to Industry State Bank in 1927. The depression caused a downturn in the deposits and income of Industry State Bank. While deposits had peaked at $206,000 in 1924, the low point for deposits occurred at the end of 1932 when they fell to $95,000. Deposits would not again reach their 1924 levels
A new bank building was constructed at the Main Street location in 1957, and by 1962, the bank's assets had grown to $1,500,000. The bank relocated to a new structure in 1973 at the corner of Highway 159 and Highway 109. Industry State Bank acquired its first additional banking facility, New Ulm State Bank, in 1989. The integration of improved banking technology throughout its existence has enabled Industry State Bank to continue to serve the citizens of the region with banking facilities in fifteen communities.
175 Years of Texas Independence * 1836-2011
Erected 2011 by Texas Historical Commission. (Marker Number 16886.)
Topics. This historical marker is listed in this topic list: Industry & Commerce. A significant historical date for this entry is February 11, 1911.
Location. 29° 58.351′ N, 96° 30.119′ W. Marker is in Industry, Texas, in Austin County. Marker is at the intersection of Fordtran Boulevard (State Highway 159) and Ernst Parkway (Farm to Market Road 109), on the right when traveling west on Fordtran Boulevard. The marker is located on the corner of the bank building. Touch for map. Marker is at or near this postal address: 16886 Fordtran Boulevard, Industry TX 78944, United States of America. Touch for directions.
Other nearby markers. At least 8 other markers are within walking distance of this marker. Industry Methodist Church (approx. ¼ mile away); Industry United Methodist Cemetery (approx. Industry Pilgrims Rest Cemetery (approx. 0.3 miles away); Lindemann - Ott House (approx. 0.3 miles away); Lindemann Store (approx. 0.4 miles away); Industry (approx. 0.4 miles away); Friedrich Ernst (approx. 0.4 miles away); John Friedrich Ernst, Jr. (approx. 0.4 miles away). Touch for a list and map of all markers in Industry.
Credits. This page was last revised on June 30, 2021. It was originally submitted on June 29, 2021, by James Hulse of Medina, Texas. This page has been viewed 166 times since then and 30 times this year. Photos: 1, 2, 3, 4. submitted on June 30, 2021, by James Hulse of Medina, Texas.