The State Bank of Blue Rapids, one of the oldest state chartered banks in Kansas, was established in 1871 as a private bank by C.E. Olmstead and J.L. Freeland. In 1879 the bank name was changed to Bank of Blue Rapids City. The bank operated as a private bank until 1891 when it was incorporated as a State Bank and named The State Bank of Blue Rapids with paid up capital of $20,000.00
After serving as a state bank examiner for 9 years, R.B. Schwartz purchased majority interest in the bank in 1935. Since his death in 1953 the Schwartz family continues to own and operate The State Bank of Blue Rapids. Three family members have served as president of the bank. Two loyal non-family members have also served as president of the bank.
The Bank continues to operate in the original native limestone building which was constructed in 1870.