The American Exchange Bank was incorporated July 13, 1889 and bank business began on September 9, 1889. The incorporators were F. E. Stevens, E. A. Stopher, W. S. Waters and C. D. Stevens. The bank first used an existing building near the corner of 4th and D Street. This two-story brick building was 60 ft by 28 ft by 24 ft and had brick walls 14 inches thick. The vault in the building was 14 ft by 14 ft by 12 ft. The building cost of the 1892 building was $4, 911.89. The bank occupied this building for 82 years. In 1974, the bank built a new 40 ft x 60 ft building one block north to its present location at 151 N. Fourth Street. This building also has a full basement available for community meetings.
The Aldrich family became involved with the bank on April 1, 1909. On that date John P. Cobb purchased 60% of the bank stock and Charles S. Aldrich purchased 20%. These two became president and vice-president and received a monthly salary of $75. Bess Streeter Aldrich, best selling Nebraska author, became an active part of the bank in 1925 when her husband, Charles S. Aldrich, died suddenly. In 1933, President Franklin D. Roosevelt declared the Holiday Banking Act, in which all banks closed for four days. Any banks that did not have enough capital had to remain closed. American Exchange Bank did not have enough capital. Because of Bess Streeter Aldrich’s personal capital addition to the bank, it was able to stay open for business. Mrs. Aldrich continued as a director of the bank until 1938.
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