Fifth hour english and social studies class, Barneveld High School, Barneveld, WI / Barneveld community profile
Business & commerce, pp. -29 ff.
During those 80 years the bank has been prospering quite rapidly. The deposits have gone up 1 million dollars in the last year which is a 10% growth or increase. AThe deposits from the area are 10 million dollars. These include local business from Barneveld, Blue Mounds, Ridgeway, Hollandale, and the county area. In the future he plans to continue to operate the bank as a small town, independent, commercial bank. "The future really depends on what the needs of the people in the community are, and also what happens to the banking business nationally," commented Mr. Arneson. He also feels that the community will expand and as a result the bank will also expand. There are conditions which do affect the banking business, among these, weather conditions. The drought affected the bank because the farmers couldn't afford to produce crops for their animals. The bank provided them with money, which in turn affected the business of the bank and the farmer. Also the ice storm affected business because farmers were borrowing alot of money for generators. Three years ago was a very good year for community business because the farmers had good crops, stable prices and the business was prospering. When asked if the fact that this is a small community hurts the banking business, Mr. Arneson replied, "No, in fact it helps our bunisess. It makes it easier for us to do business because we know the people." The bank employs 16 people, including those whb .ork in the bank, and those who care for the bank. One and a half percent of total assets are spent on advertising, The services offered are a place for people to put money in interest or checking and savings accounts. Also investment certificates, individual retirement accounts, safety deposit vaults and bands, loans for financing, and advice are offered. Mr. Arneson said, ?our services are that of a lender: What we take in as a service to people for savings, they lend out as a loan." The Barneveld State Bank has many services to provide us with and is very successful in its business. The community always helps the business prosper so if we satisfy our businesses then in return we should get good, Beneficial business.
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