A group of Bohemian immigrants in the growing town of Protivin finalized plans for an independent savings bank in May 1910. Articles of incorporation were adopted and necessary formalities were taken to launch the new bank business. The bank, which had initial capital of $15,000, began operating within a local hardware store October that year, while construction started on a permanent location.

The Bohemian Savings Bank dedicated its new building with a grand opening December 1, 1910. The building was constructed of concrete block to simulate a stone appearance while the interior was finished with oak and a metal-embossed ceiling. The bank survived the depression, and continued to operate independently until 1986, when it was purchased by the Decorah State Bank.

The bank office was converted to a branch office and remained in use until operations were relocated to a modern, larger building in May 1989.