Information Center

Bank History

History of Success

American Trust’s history dates back to December 1911 when several Dubuque business people obtained a charter for the German American Savings Bank. Nicholas J. Schrup, one of the founding fathers, became the first president. The bank’s name was changed during World War I to American Trust & Savings Bank.

Charles J. Schrup succeeded his father as president of American Trust in 1925 and guided the bank safely through the Great Depression. Of the seven banks established in Dubuque, American Trust was one of only two banks to survive the economic crash. Charles Schrup died in 1949. His legacy continued when his two sons, Charles J. Schrup Jr., and Nicholas Schrup II joined the bank in the 1950s.

The bank began its second half-century of service to Dubuque in 1962 with a decade defined by changes and additions. American Trust added a modern motor bank near Ninth and Locust Streets, and opened its west side office on Kennedy Road, where a modern, spacious office now operates. In 1967, Nicholas Schrup II became the fourth president in the bank’s history.

The 1970s and 1980s brought more growth to American Trust. Offices were opened in Key West and at 32nd and Jackson Streets in Dubuque. The bank also developed a presence in Dyersville, Iowa, with the acquisition of the National Bank of Dyersville in 1986. Three more Schrups joined the executive ranks: Charles Schrup III and William Schrup — both sons of Charles J. Schrup Jr. — and Nicholas Schrup III, son of Nicholas Schrup II.

American Trust added two new facilities in the early 1990s. The bank was the first in the area to open a supermarket office, and a new facility was built at the bank’s Ninth and Locust Streets location to accommodate changing client needs.

In 2000, Nicholas Schrup III was elected president, chief executive officer, and co-chairman of American Trust, and Charles J. Schrup III, was elected co-chairman. These appointments reaffirmed the rooted tradition of family-oriented service.

The bank expanded its services in 2003, demonstrated by the completion of a new facility at the 32nd and Jackson location and the construction of a new office in Farley, Iowa. The Key West facility finished their complete makeover in fourth quarter 2006 and the bank is operating in the new Hartig Drug facility on University Avenue as of the first quarter in 2007. Plans are under construction for the newest Dubuque facility to open on the Sam's Club property in the fourth quarter 2007.

American Trust opened an office in West Des Moines in 2005 and a second location opened in June 2007.

Throughout the years American Trust has developed a strong reputation for providing outstanding service to clients and strongly supporting local communities. We are proud of this tradition and look forward to serving our clients and communities in the future.