"Where Banking Is Still A People Business"

President's Message


President R.W. HegeholzIn the communities we serve, there is a “hometown” feeling where everyone knows each other. It’s this friendly atmosphere that makes living in this area a pleasant experience. 

We are a locally owned and operated community bank. The bank, with the main office in Bruce, Wisconsin was chartered in 1902. The bank serves its customers in six locations including Bruce, Exeland, Sheldon, Gilman, Holcombe, and Hayward. 

Dairyland State Bank would like to be your bank. We respond to the needs of our customers and continue to provide the most up to date banking services such as ATM, online banking, bill pay, mobile banking, mobile remote deposit, eStatements, and the like. We also offer a full line of deposit and loan products. 

Our well trained staff has many years of experience and is ready to professionally serve you with all your banking needs. We feel strongly about supporting local projects, organizations and schools in our communities with donations of time and resources. Our staff and board members serve as youth coaches, church volunteers, scout leaders and participate in a number of community organizations. 

We are committed to serving our local area. We want to respond quickly to your banking needs and make you feel comfortable as a customer of our bank. Thank you for visiting our website. If you have any questions, please feel free to contact any of our branch locations. 

The Dairyland State Bank, “Where Banking Is Still A People Business”.


R. W. Hegeholz

Mission Statement

The central purpose and role of Dairyland State Bank is to provide a full range of banking services on a professional, timely and personal basis for rural and small town residents in North Central Wisconsin while operating in a safe and sound manner and providing a reasonable profit to its owners.


History of Dairyland State BankRusk County’s oldest bank was chartered on June 20, 1902 and was known as Lumberman’s State Bank. Officers were D.J. Arpin, President; E.P. Arpin, Vice President; A.P. Arpin, Cashier.

In 1918 Dr. H.C. Johnson of Glen Flora was named President. The bank’s name was then changed to the State Bank of Bruce, as farming was quickly overshadowing the lumbering business in the Bruce area. President Johnson was also the President of the State Bank of Glen Flora.

In 1935 the State Bank of Bruce merged with Farmer’s State Bank of Sheldon and the State Bank of Exeland. The name was changed to the Dairyland State Bank on July 15, 1935

W.F. Dietlein was the President in March 1936 and served with Directors C.M. Sanford, H.B. Cox, L.W. Ham, O.J. Falge, Robert Schultz and A.A. Veness.

Dairyland State Bank was sold to K.A. Garnatz in 1948 and to Otto Olson in 1952. Olson was made President, succeeding R.W. Schultz of Bruce.

The Bank was sold in 1953 to Colonel Charles Lindberg and Willard Mertz. Mertz resigned due to misappropriation of funds. The F.D.I.C. declared the Bank to be sound and the bank stock was sold to a large group of local investors. The new Directors elected R.W. Schultz as President. Directors included O.J. Falge, Ralph Jenkins, Harold Sanford and Ben Scheifelbein. Melvin W. Swanson was named Cashier in 1960. In 1971 the Directors elected Al Capp as President.

C.D.Hegeholz, President of the Chippewa Valley Bank in Winter and the State Bank of Park Falls, purchased the bank in 1973. The total bank deposits at the time of purchase were $7 million. The Board of Directors consisted of President C.D. Hegeholz, Myron Hawley, Franz Gerber, William G Leuell, Harold Sanford, Mel Swanson and Ed Walters with Bert Beilfus serving as Cashier.  

A new bank building was constructed in Bruce in 1979, replacing old and vacant buildings, including the Bruce Opera House, Maddocks Drug Store, Melody Bar and the Texaco Station.  

In 1985 the bank was sold by C.D. Hegeholz to Arnold Stueber, Sr. of Park Falls. Mr. Stueber was also the owner of Stueber Beverages, distributing Pepsi products in Northern Wisconsin. R.W. Hegeholz was elected President in 1991.

Local ownership was once again attained when the current owners of the Dairyland State Bank purchased the Bank from Arnold Stueber, Sr. in September 1993. On April 14, 2008 the State Bank of Gilman was merged into the Dairyland State Bank. The total assets of the combined institution are 92 million. The bank now has locations in 6 communities including Bruce, Exeland, Sheldon, Gilman, Holcombe, and Hayward. 

The Board of Directors currently consists of President R.W. Hegeholz, Norman Spooner, Lorna J. Meyer, Cheryl Rosemeyer, Randi Osberg, Matthew Sieg, David Brost, Jeff Zahurones, and Kempton Spooner who serves as an advisor. R.W. Hegeholz continues to lead the Dairyland State Bank as President and Chief Executive Officer.