County loses life-long leader
Item
Title
County loses life-long leader
Creator
The Calumet Day
Date
September 1, 1982
Identifier
SN.01.523
Subject
Walter E. Schrage Jr., Michael Schrage, Walter E. Schrage
Original Format
newspaper
Text
County loses life-long leader
Walter E. Schrage, a prominent area banker, passed away on Sunday afternoon, Aug. 22, 1982. His death marks the end of a lifetime of dedication to his family, his family's business, and community efforts throughout the Lake County area.
Born on Aug. 28, 1912, the son of Walter E. and Lois Coffin Schrage, Schrage was Chairman of the Board of The First Bank of Whiting, a position he held since 1941.
Schrage represented the third generation of the Schrage family which pioneered early Whiting and opened the first bank in the new community in 1895.
After attending public schools in Whiting, where he was an honor student and athlete, Schrage obtained his higher education at Culver Military and Northwestern University. He began his banking career in 1931, when he became a clerk in the family-owned Bank of Whiting.
Except for a short period in the late 1930's, when he managed the family-owned Straube Piano Company in East Chicago, Schrage spent his entire working life in banking. Returning to First Bank in 1941 as its President and Chairman of the Board, Schrage continued as a leader in area banking throughout the years. Earlier this year, he was presented with a membership in the Fifty Year Club of the Indiana Bankers Association. This month's issue of the Indiana Banker features a picture of the Award ceremony showing Schrage receiving the award and commendation from his son, Michael E. Schrage, President of First Bank.
Always proud of the fact that the family-owned bank never closed its doors, even during the darkest days of the Great Depression, Schrage lived to see his bank grow to over $250 million, with 12 banking offices serving the length and breadth of Lake County.
Throughout his lifetime, Schrage was an active participant in civic and humanitarian projects. Known for his deep concern for the welfare and rehabilitation of the disadvantaged, Schrage was a member of the Pirates at Tradewind Center.
"He will be missed, not only for his friendly smile, quiet humor, and absorbing interest, but also for his leadership and vision with which he's guided us throughout the years," said son Michael Schrage. "I know how much pride he's taken in the family business accomplishments and the fact that his business was always able to help others. We'll miss his presence, but we will never stop living by the principles that guided him throughout his lifetime."
Walter E. Schrage, a prominent area banker, passed away on Sunday afternoon, Aug. 22, 1982. His death marks the end of a lifetime of dedication to his family, his family's business, and community efforts throughout the Lake County area.
Born on Aug. 28, 1912, the son of Walter E. and Lois Coffin Schrage, Schrage was Chairman of the Board of The First Bank of Whiting, a position he held since 1941.
Schrage represented the third generation of the Schrage family which pioneered early Whiting and opened the first bank in the new community in 1895.
After attending public schools in Whiting, where he was an honor student and athlete, Schrage obtained his higher education at Culver Military and Northwestern University. He began his banking career in 1931, when he became a clerk in the family-owned Bank of Whiting.
Except for a short period in the late 1930's, when he managed the family-owned Straube Piano Company in East Chicago, Schrage spent his entire working life in banking. Returning to First Bank in 1941 as its President and Chairman of the Board, Schrage continued as a leader in area banking throughout the years. Earlier this year, he was presented with a membership in the Fifty Year Club of the Indiana Bankers Association. This month's issue of the Indiana Banker features a picture of the Award ceremony showing Schrage receiving the award and commendation from his son, Michael E. Schrage, President of First Bank.
Always proud of the fact that the family-owned bank never closed its doors, even during the darkest days of the Great Depression, Schrage lived to see his bank grow to over $250 million, with 12 banking offices serving the length and breadth of Lake County.
Throughout his lifetime, Schrage was an active participant in civic and humanitarian projects. Known for his deep concern for the welfare and rehabilitation of the disadvantaged, Schrage was a member of the Pirates at Tradewind Center.
"He will be missed, not only for his friendly smile, quiet humor, and absorbing interest, but also for his leadership and vision with which he's guided us throughout the years," said son Michael Schrage. "I know how much pride he's taken in the family business accomplishments and the fact that his business was always able to help others. We'll miss his presence, but we will never stop living by the principles that guided him throughout his lifetime."