Denmark State Bank ... Where Customers Send Their Friends

Denmark State Bank is a subsidiary of Denmark Bancshares, Inc., a diversified one-bank holding company headquartered in Denmark, Wisconsin.

Denmark Bancshares, Inc. - Investor Information:

Denmark Bancshares, Inc. (the "Company") is community owned with stock widely held by area residents.

The Denmark State Bank (the "Bank") has six full service banking offices serving primarily Brown, Kewaunee, Manitowoc and Outagamie Counties. The Bank is known for its high quality personal service to customers and its commitment to the communities in which it serves. We invite new customers to try our services and find out why Denmark State Bank is the place "where customers send their friends".

The Bank is truly a full service bank with products and services to meet the needs of consumers, farmers and small businesses. In addition to traditional banking services like checking accounts, savings accounts, retirement accounts, loans, credit cards, check cards, 24 hour telephone banking, ATM's, etc. The Bank has a large and active membership in the Vintage 55 Club and Travel. The Bank specializes in agricultural lending, residential mortgages and small business loans.

Customers of the Bank enjoy the friendly familiar faces of our staff they become accustomed to seeing. Employee turnover at Denmark State Bank is very low. Our employees are involved in many civic and charitable organizations in our communities. We believe in giving something back to our neighborhoods, for without prosperous communities the Bank would not be the successful financial institution it is today.

Denmark Bancshares, Inc. also extends agricultural credit through its subsidiary Denmark Agricultural Credit. As of December 31, 2007, the Company's total assets exceeded $410 million while total stockholders' equity was $51 million. The Company had 1,520 shareholders with 119,053 shares of common stock issued and outstanding. The Company employs about 106 people.

History

On March 22, 1909, a group of experienced businessmen who resided in the vicinity of Green Bay and Denmark, concluded that the prosperous Village of Denmark offered a logical site for the location of a bank. They therefore obtained a state charter and opened the temporary offices of Denmark State Bank with a capitalization of $25,000. The first directors chosen were: John Bartelme, H.F. Buckmann, H.A. Dumdey, J.F. Enz, Mitchell Joannes, John O. Jorgensen, Joseph F. Konop, F.W. Kriwanek and W.P. Wagner. Mitchell Joannes was elected president and H.F. Buckmann was elected vice-president.


Mitchell JoannesÃ‚Â First President	H.F. Buckmann Ã‚Â Second President

Operations were immediately begun for the erection of more permanent and spacious quarters. The first new building was completed and occupied in November 1909. The board of directors, at a meeting in the winter of 1918, decided that the building then occupied was inadequate to provide for proper service to the ever-growing host of customers and therefore decided to erect new banking quarters. The building was finished early in May 1919. The new building was beautiful and was considered one of the finest financial institutions in the rural districts of the Middle West. No expense was spared in an effort to obtain security and convenience in the new massive structure. Its total cost was approximately $45,000. It was built to satisfy the ever-increasing business for many years to come. The building was open to the public to be used for business meetings and for social gatherings. This facility served our customers and the community for many years until continued growth and changing technologies necessitated a new building in 1974.


March 1909 Temporary Headquarter	November 1909	May 1919

The Officers and Directors in 1919


John F. Enz President	J.F. Konop Vice-President	George G. De Broux Cashier

John Bartelme	H.A. Dumdey	M.J. Flaherty

John O. Jorgensen	F.W. Kriwanek	Henry F. Wittig

In November 1969 the Bank began serving the customers of the Town of Bellevue with the opening of a branch bank. By 1973 the Bank had progressed a long way from its humble beginnings in 1909. Continued growth of assets and additional employees dictated the need for a larger more modern facility. Construction of a new office began in the summer of 1973 and was completed in May 1974. Total assets of the Bank were $17 million in 1974.


Bellevue Office 1969	Denmark 1974

Directors 1974

Norman F. Tauber, Joseph J. Deprey, Ervin Leiterman
William J. Noel, B. E. Mleziva, D.V.M., Albert Konop, William Noel

In 1983 Denmark Bancshares, Inc. was incorporated and began operations as a bank holding company following an exchange of its shares for outstanding shares of the Bank. In 1985 the Company purchased the McDonald Insurance Agency and formed the subsidiary L. McDonald Insurance Agency, Inc. Also in 1985, the Denmark Agricultural Credit Corporation was formed as a subsidiary of the Company to offer agricultural credit to area farmers. In 1986, The Company acquired the Maribel-Whitelaw Bank. The Maribel-Whitelaw Bank was a state bank chartered in 1912. At the time of the purchase the Maribel-Whitelaw Bank was $22 million in total assets with offices in Maribel and Whitelaw in Manitowoc County Wisconsin. The Bank had over $60 million in total assets prior to the purchase and consolidation of the Maribel-Whitelaw Bank into the Denmark State Bank charter.

The Company continued to grow and prosper in the communities it is serving. By the year-end 1990 total assets of the Company were in excess of $142 million. The main office in Denmark was again out of room to add additional employees so a major remodeling and expansion project began in 1991. The expansion doubled the square footage of the building completed in 1974. In order to accommodate the expansion it was necessary to demolish the three buildings immediately to the east of the bank. One of those buildings, known for many years as the Denmark Laundromat, was the original permanent headquarters of the bank built in 1909.

In late 1996 the Company purchased the Zeamer Insurance Agency and renamed the L. McDonald Insurance Agency, Inc. the McDonald-Zeamer Insurance Agency, Inc. In August 1997 the Bank acquired the assets and assumed the liabilities of the Reedsville Branch of M&I Bank Northeast. Total deposits of the branch at the time of the purchase were $19 million. The addition of the Reedsville Office gives the Bank five full service banking offices serving primarily Brown, Kewaunee and Manitowoc Counties.

Directors 2001

Standing: Thomas Wall, David Radue, Roger Lemmens
Darrell Lemmens, Thomas Hartman, Allen Peters
Seated: James Renier, Bernard Mleziva, D.V.M., Norman Tauber
Edward Opichka, D.D.S., Glenn Whipp

In 2003 Denmark Bancshares, Inc., built the Denmark Financial Center adjacent to the Denmark State Bank Denmark Branch. The Center housed McDonald-Zeamer Insurance Agency, Inc., Vintage 55 Travel Club, and Denmark Financial Services. We were also pleased to announce the addition of a sixth branch temporarily located in the Plum Creek Plaza in Wrightstown. The Bank entered into a lease agreement with the owners of Plum Creek Plaza until land could be secured to build a branch location. The Bank was able to negotiate the purchase of 10 acres for a new branch on the west side of Wrightstown. We also orchestrated the purchase of the property in Maribel for the expansion of our Maribel office.

In the fall of 2003 Denmark Bancshares, Inc. held a public stock offering to raise the necessary capital for the construction of a new branch in Wrightstown and Maribel. Denmark State Bank was now $360 million is asset size.

Breaking ground of the official site for our Wrightstown Branch began in January of 2004, and became fully operational during the summer of 2004. October of 2004 marked the grand opening of Denmark State Bank's new Wrightstown office. This brought the banks locations to seven and shortly after in 2005 our Maribel office expansion project was finished.

For Denmark State Bank 2006 meant many changes. The temporary location in Plum Creek Plaza was consolidated with our newly built Wrightstown office.

On September 9, Denmark Bancshares, Inc.'s (DBI) Board of Directors announced the appointment of John P. Olsen (Jack) as President of DBI and its subsidiary Denmark State Bank.

In late 2006 Denmark Bancshares, Inc. also announced the sale of one of its subsidiaries, McDonald-Zeamer Insurance Agency, Inc. to Associates Insurance Agency Ltd. located in Denmark.

Today, Denmark State Bank has assets totaling approximately $360 million and has approximately 100 Employees with six branch locations. In addition to Denmark State Bank's external growth, the bank has also grown internally by expanding its products and services. The bank currently has Online Banking, Health Savings Accounts, IRAs, Home Equity Lines of Credit, Safe Deposit Boxes, Wealth Management Services (stocks, bonds, mutual funds, IRAs and 401k advisors), a Vintage 55 Travel Club and most importantly a community bank attitude "Where Customer's Send Their Friends."

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