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Wells Fargo Building (Davenport, Iowa)
The Wells Fargo Building is a mixed-use facility located in Downtown Davenport, Iowa, United States. It is listed on the National Register of Historic Places as American Commercial and Savings Bank, its original name. The building houses commercial, office and residential space. It is the tallest building in the Quad Cities.
==History==
Henry Lischer and H.H. Anderson formed German Savings Bank in 1869. By 1916 it was the largest bank in Iowa. Because of anti-German sentiments that resulted from World War I the bank’s name was changed to American Commercial and Savings Bank.
In the 1920s American Commercial and Savings Bank absorbed the Security Savings Bank. As a result of the Great Depression it absorbed Iowa National Bank, the Citizens Trust and Savings Bank, and the Farmers and Merchants Bank. It was one of five banks in the city that was still active when President Franklin Roosevelt declared the Emergency Banking Act in 1933. The others included: Bechtel Trust Company, Northwest Davenport Savings Bank, Union Savings Bank and Trust, and Home Savings Bank.〔Svendsen, 5-5.〕 It was one of only two banks to re-open in Davenport. The bank changed its name at this time to Davenport Bank and Trust Company under the direction of E.P. Adler. By 1936 it rebuilt itself to become the second largest bank in Iowa.〔
V.O. Figge became associated with the bank in 1931 as a bank examiner and served as vice-president, president and CEO until it was sold to Norwest Bank in 1992. It became Wells Fargo Bank after the merger of the two banks in November 1998. In 2005 the building was purchased by Financial District Properties. A $7.5 million renovation project in 2013 converted the building's fifth, ninth, tenth and eleventh floors into 29 market rate apartments. Wells Fargo Bank remains alongside other commercial and residential tenants.
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