Banking, a family affair
Item
Title
Banking, a family affair
Date
1977
Identifier
SN.01.345
Subject
Michael Schrage, Walter Schrage, Jr.
Original Format
newspaper
Text
On the 82 Anniversary of the founding of The First Bank of Whiting, Walter E. Schrage announced his resignation as president, but will continue as chairman of the board. Named by the board of directors to succeed him as president was his son, Michael E. Schrage.
Michael Schrage represents the fourth generation of the Schrage family to retain leadership of the bank.
Walter E. Schrage, Jr. joined the Bank as a clerk in 1933. His father, Walter, Sr., was president of First Bank from 1917 until he passed away in 1941. Walter was named president in 1941. It was through his foresight and leadership that First Bank has enjoyed its most dramatic growth from a single office to the present five offices.
The bank's growth has been accomplished without mergers or acquisitions of any kind, primarily because of his leadership.
Schrage, who is married to the former Doris Smith, will continue to be active in the bank.
Michael Schrage came to First Bank in September, 1972, starting as a teller.
Michael, 29, received his bachelor's degree in economics from Denison University. He attended graduate school at the University of Colorado where he received his master's degree in business administration.
Michael is a member of the Dyer Lions, Boy Scouts of America Board Member, YMCA Advisory Board and a Trade Winds Pirate.
Married to the former Jill Seberger, the Michael Schrage’s reside in Munster.
Michael Schrage represents the fourth generation of the Schrage family to retain leadership of the bank.
Walter E. Schrage, Jr. joined the Bank as a clerk in 1933. His father, Walter, Sr., was president of First Bank from 1917 until he passed away in 1941. Walter was named president in 1941. It was through his foresight and leadership that First Bank has enjoyed its most dramatic growth from a single office to the present five offices.
The bank's growth has been accomplished without mergers or acquisitions of any kind, primarily because of his leadership.
Schrage, who is married to the former Doris Smith, will continue to be active in the bank.
Michael Schrage came to First Bank in September, 1972, starting as a teller.
Michael, 29, received his bachelor's degree in economics from Denison University. He attended graduate school at the University of Colorado where he received his master's degree in business administration.
Michael is a member of the Dyer Lions, Boy Scouts of America Board Member, YMCA Advisory Board and a Trade Winds Pirate.
Married to the former Jill Seberger, the Michael Schrage’s reside in Munster.