The State Bank of Odell was chartered May 17th, 1907 by Thomas W. Stanosheck. Mr. Stanosheck had, however been a resident of Odell since 1884, coming to the new town of Odell from Iowa City, Iowa, where he was born in 1859 to Albert and Pauline Stanosheck. Upon first coming to Odell, Mr. Stanosheck and his brother, Frank operated a general merchandise store until 1897. Mr. Stanosheck devoted most of his time to his own affairs and business investments until opening the new bank. The ability to speak four languages and understand three others aided Mr. Stanosheck in working with the many different ethnic groups in the community. Among the original stockholders of the State Bank of Odell, were: Chris Riggert, C.C. Gafford, T.R. Comer, August Riggert, J.A. McGuire, F.H. Riggert, Albert Sohl, Frank Masek, Dr. I.N. Pickett, Henry Rengstorf, Tony Hirmon, J.B. Renard, L.E. Callan, Ernest Loemker, James Colgrove, A.O. Burkett, Frank Hirmon, D.D. McGuire and J.E. Murphy.

The first location for the State Bank of Odell was the northwest corner of Main and Perry streets in the building which had formerly housed the J.D. Meyers Bank. The limestone structure still stands as one of Odell's landmarks. The first cashier was D.D. McGuire, who along with T.W. Stanosheck, conducted daily operations of the new bank. Mr. McGuire was succeeded by H.B. Gibson in 1910. In 1912, W.T. Stanosheck, son of T.W. Stanosheck, entered the business and remained active in the State Bank of Odell, eventually serving as its president, for over 50 years. In 1928 the bank moved to a new location in the building which is still its home today.

Over the years a number of improvements and building changes have been made. In 1974 the bank expanded into a building to the north, which had been a number of different businesses. Among these were: Red Curtiss, who had operated a tavern on the premises; Rufus Tincher, a grocery store; Mike Murray, a liquor store and Russell Heidbrink, a TV repair shop. In 1991 the bank expanded into a building to the south, which had been a tavern for several different owners, to add more space for offices.