Pillar of the Community: How Wood & Huston Bank became a Cape Girardeau institution

In the 1870s, Missouri was undergoing a period of modernization. Railways began to crisscross the state, full-time farm operations replaced herding and hunting, and formerly small rural towns swelled in size.

Two businessmen from Arrow Rock recognized the opportunity brought about by this economic boom. Joseph Huston Jr. and William Wood had previously worked together in mercantile ventures, but now was a time for new horizons. In 1874, they opened their first bank in Marshall, Missouri, equipped with $20,000 in capital and their reputations as upstanding businessmen and members of the community.

Just over 100 years later, in 1979, Missouri looked a bit different. Cities, suburbs and shopping malls dotted the landscape, while the economy fluctuated due to inflation and fuel shortages. Michael Jackson was at the top of the music charts. Moviegoers munched popcorn and enjoyed Alien, Rocky II and Mad Max. Every kid wanted an Atari VCS for Christmas.

In October 1979, John Huston (then-president of Wood & Huston Bank) filed for a charter to open a new location in Cape Girardeau, Missouri, to be named Southeast Missouri Bank. The catch? Another banking institution had filed for a charter around the same time, and it was unlikely that both would be granted. There were already three banks in Cape Girardeau, so it was up to the State Finance Division to determine if the area could support another additional institution, much less two.

But this wasn’t the only challenge that Huston faced. Their competitor, Bank of Cape Girardeau, had formed an investment group that included St. Louis Cardinals great, Stan Musial. In May 1980, news broke that some of Bank of Cape Girardeau’s investors had political ties to Joseph P. Teasdale, the governor of Missouri at the time.

Although things weren’t looking optimistic, the State Finance Division ultimately decided to award the charter to Huston and Southeast Missouri Bank. However, Bank of Cape Girardeau wasn’t going down without a fight. They appealed the decision and brought in a lawyer to testify that their bank would be more profitable than Southeast Missouri Bank based on traffic flow at the two planned construction sites.

But just when it seemed like the project might fail, the State Bank Board decided to uphold the State Finance Division’s original ruling, meaning that Southeast Missouri Bank could finally break ground on their new location.

Southeast Missouri Bank opened in 1981, officially bringing the entrepreneurial spirit of Wood & Huston to Cape Girardeau (although it would be another few years before the branch was rechristened to reflect the Wood & Huston name).

That spirit continues with Wood & Huston’s newly designed bank building at 111 South Broadview Street.

This brand-new, state-of-the-art branch includes specialized customer service areas — one for personal banking and one for lending — providing each individual customer with a tailored banking experience as unique as they are.

This location showcases the latest innovation in modern banking: Live Assist™ Video Teller ITMs. These Interactive Teller Machines can be used just like traditional ATMs, or if preferred, you can touch the screen and speak with a live teller who can assist with cash or check deposits, withdrawals, loan payments and checking account balances. Live Assist™ Video Tellers are available to customers outside normal business hours (7 a.m. to 7 p.m.) and unlike a traditional ATM, they can provide cash withdrawals down to the penny.

With this technology, plus Wood & Huston’s award-winning mobile banking app, customers have access to phenomenal banking services both inside the bank and outside of it.

Wood & Huston is proud to count Cape Girardeau as one of their home communities. Over the years, they have supported the Southeast Missouri area through working relationships between their Trusted Advisors and community leadership within the City of Cape Girardeau, Cape Girardeau County and others. This includes numerous partnerships with Southeast Missouri State University and the University Foundation. Wood & Huston is honored to be able to lend their support to an organization that offers such an exceptional economic and social impact on the community.

But this community support doesn’t stop at the boardroom table. Wood & Huston employees in the Southeast area also donate their time to organizations such as Junior Achievement, Read to Succeed and local service clubs such as the Lions Club and Zonta Club, as well as getting involved with local youth sports and Boy and Girl Scout chapters in the area. Because they are a part of the community, Wood & Huston is able to understand that no community can thrive without each individual contributing.

Joseph Huston Jr. said it best: “As a local bank, we believe that our primary duty is to provide personal service, banking expertise, trusted advice and invest in the communities we call home.”

With the innovative spirit of its founders and a strong commitment to investment in their communities, Wood & Huston has once again proved itself to be a banking institution by Missourians, and for Missourians — in Cape Girardeau and beyond.