Flanagan State Bank - Home Mortgage

Flanagan State Bank
111 N Fayette Street,
El Paso, IL 61738
Phone:(309) 527-7300
Fax:(309) 527-7309

Flanagan State Bank was founded in 1913. When the bank was formed there were 38 original shareholders and a capitalization of $25,000. The town of Flanagan is located between Interstates 55 and 39 on Route 116, about 11 miles west of Pontiac, Illinois and 30 miles north-northeast of Bloomington-Normal.

Henry "Hank" Schwerin, the first of the Schwerin family to be involved with the bank, was born in 1902 in Buck Creek, Iowa. He was the oldest of eleven children. He attended Wartburg College in nearby Waverly and moved to Flanagan, Illinois to join Flanagan State Bank after graduation. He worked as a cashier in his first years at the bank. Hank and his father-in-law, Henry Koopman, gained majority interest in the bank in 1938. The Schwerin family, which first came to the Midwestern United States by boat from Germany in the mid 1880's, has been involved in the bank since Hank came aboard in 1920. In 1967, Hank's son Paul took over as president.

Â©2008 Flanagan State Bank.