History

The Andover State Bank started when Andover consisted of nothing more than a wheat field and a single grocery store. The bank was organized in 1916 by J. Earl Tanner who later sold the bank to Fred D. Wilson in 1924. The bank's original building is now the Andover Historic Society. It was given to the City and served as City Hall until the current city building was constructed. During the Depression, President Hoover ordered all banks closed for three days. Although the Andover State Bank would officially close, Mr. Wilson would sit at the back door of the bank and serve the customers’ needs.

Mr. Wilson's son-in-law, Max C. McConachie, joined the bank in 1949 and succeeded Mr. Wilson as President and Chairman in 1959. Max's wife, Harriet, continues as Vice Chairman and Cashier. The School District's administrative offices are now located in the building that served as the bank headquarters from 1962 to 1999. Before the land was developed, it represented the southern edge of the city as everything south was farmland.

From predominantly agricultural beginnings and orientation, the Andover State Bank has transcended its rural roots to become a modern, full-service community banking organization. The third generation and current President and Chairman, Kirk McConachie, elected to join the bank in 1977. He continues to carry on traditions such as the popcorn loans to the grade schools students, the employee pumpkin carving contest, and the prize for finding your phone number in the newsletter.

Many generations of customers have banked with Andover State Bank in the same way that many generations have served them. The fourth generation of management and ownership, Allison M. Grace, joined the bank in 2001 serving the bank as Vice President and Chief Financial Officer. The current Board of Directors and management team feels very strongly about the future of community banking.