DSB Eyes Future, Proud of Past


By Charles Collier, The Denmark News

Last week’s issue featured this piece regarding Denmark State Bank. The information and quotations were compiled over e-mail and some communications become intertwined. Our original publication attributed the following quotes to Linda Bodden, a marketing specialist for Denmark State Bank. These quotes and the information deduced from them were that of Denmark State Bank’s CEO Scot Thompson. To avoid future confusion, we have re-published the piece with corrected attributions.


Last month Denmark State Bank announced two new branch locations in Howard and Lawrence alongside its quarterly report. I caught up with CEO Scot Thompson to shed some light on DSB’s successes and what the future may entail.

The expansion comes on the heels of the Bank closing its Maribel and Wrightstown branches. Some have speculated the closure of these branches in smaller communities only to invest in more heavily populated Green Bay as the Bank turning away from its community’s roots.

Thompson says both decisions were made independently in the interest of investments, greatest potential for serving past and future clients while maintaining value for shareholders. State Bank’s branch in Bellevue provided somewhat of a dipstick for the Green Bay-metro market, leading State Bank to trust in future developments there.

“We have enjoyed great success in Bellevue since opening there in 1969 and that track record provided a valuable point of reference for our potential in other areas.” Thompson said in an email.

In regards to the Maribel and Wrightstown closures, “Although there is certainly customer convenience in having a branch in every town, we had to consider the efficiency and effectiveness of our branch network and make a difficult decision to ensure we’d continue to deliver value to our customers and shareholders well into the future.

“It’s also important to note that although we may not have physical locations in certain areas, we continue to be strong supporters of local organizations and activities. We have not backed away from our commitment to communities as our locations have changed.”

Denmark State Bank was also honored in July as one of the nation’s healthiest banks, ranking at 179 out of nearly 6,200 banks considered by DepositAccounts.com. State Bank was one of nine Wisconsin banks that made the top-200 cut, and Thompson credits the state’s stable business climate and “strong character of [its] citizens” for not only State Bank’s success, but Wisconsin banking in general.

Thompson also included that though Wisconsin does not see the financial peaks of high-growth states, it is often protected from economic crashes which affect those same states.

Trusting in a stable business environment is clear from State Bank’s 88.1% loan-to- deposit (LTD) ratio last quarter. In fact, State Bank has at-or- near a 90% LTD for much of the recent past. This means that for every dollar deposited at Denmark State Bank, 90 cents or so is being reinvested into the community through loans. The remaining 10 percent provides liquid wiggle room to respond to unexpected changes in the market.

To put State Bank into context, one of the world’s largest banks, Wells Fargo, recorded an LTD of just 71 percent in the same quarter.

Prioritizing itself as a community-oriented financial institution, Denmark State Bank has been the catalyst for much of Denmark’s growth.

“There is a strong work ethic and solid character among the residents and businesses in the Village that makes Denmark a great place to do business. We appreciate the great support we receive from the community and take our role in its success very seriously.”

As signs start to show more urban evolution within the Village, it seems only fitting that Denmark’s flagship business is adapting to an urban market as well.