Bendena State Bank was chartered on January 13, 1904 and open for business February 3 of the same year. The Bank was located at the corner of Main & Commercial Streets in Bendena. The first Board of Directors consisted of J. H. Hamilton, A. L. Wynkoop, J. P. Severin, Walter Zimmerman and A. F. Albers. The Officers elected were J. H. Hamilton, President; A.L. Wynkoop, Vice President; and W. M. Gillen, Cashier.
In 1907, the controlling interest of the Bank was purchased by the Zimmerman family, and Walter Zimmerman was elected President. Walter served until his death in 1939, after which R. R. Clutz served as President, who was subsequently followed by William C. Albers.
Fred Zimmerman served as Cashier from 1907 to 1908 when he left for Cheney, Kansas, where he had purchased an interest in another bank. W. C. Albers then served as cashier until 1913, when he resigned to go into the farming business. Albert F. Albers, a brother of W. C. Albers was elected Cashier and served until 1930 when he sold his interest in the bank and retired. W. H. Myers was elected Cashier in 1930 and served until 1948. Fred Clark then served as the Cashier.
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
Close
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NMLS 1795154