Oakfield was fortunate to have several entrepreneurs in its early history, people who saw opportunity and courageously acted upon it. The Bank of Oakfield is a result of one of those opportunities. A business by the name of Bristol and Worthing was located in Oakfield. An outgrowth of that business was the Bristol & Morgan Company. They operated a store in a small frame building on the present site of the Bank of Oakfield. As their business grew they constructed a two story brick building across the street from their store. This building later became known as the Cowles-Carpenter Building and currently houses the Cowles-Henke Insurance Agency.
In the late 1800’s the Bristol-Morgan Company would hold (in safe keeping) money that farmers received when marketing their products. The Bristol-Morgan Company decided to separate their business in to the store operation and the banking service. Private banks were allowed in Wisconsin at that time. The bank portion of their business was located in the front of the store (North-east corner) of the building and was surrounded by a security fence. They referred to that part of the business as the Bank of Oakfield and commenced business on February 22, 1898.
About three years later the Wisconsin Legislature enacted a law that prohibited private banks. It became necessary to incorporate as a State bank under the jurisdiction of the State Bank Commission. This was done on October 1, 1901 and thus the Bank of Oakfield was officially born. F.J. Bristol was the first President with C.G. Morgan, Vice President and W.E. Bristol as Cashier and bookkeeper. J.J. Lurvey and A.J. Worthing were added as Directors in 1904, the same year that the original bank building was constructed.
Bank of Oakfield has had the opportunity to expand its banking operations into nearby communities. In October 1995 Van Dyne became part of our family and in April 1999 the Brandon branch was added.
In January of 1999 the stockholders of the Bank of Oakfield voted to form a holding company, Oakfield Bancorp., Inc.