Encyclopedia Dubuque
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Affiliated with the Local History Network of the State Historical Society of Iowa, and the Iowa Museum Association.
SCHRUP, Nicholas J. Sr.
SCHRUP, Nicholas John. (Grand Duchy of Luxemburg, Germany, Aug. 23, 1853-Dubuque, IA, Nov. 10,1924). Founder, DUBUQUE FIRE AND MARINE INSURANCE COMPANY and the GERMAN AMERICAN SAVINGS BANK.
Schrup came to Dubuque in 1854 and served as Dubuque County auditor from 1880 to 1883. In 1883 he organized the Dubuque Fire and Marine Insurance Company and later served as its president until July 10, 1917, when he became chairman of the board.
One of the directors of the GERMAN SAVINGS BANK, Schrup and others recognized that the success of a subsidiary office of the bank on 18th Street and Couler Avenue indicated an opportunity to establish another bank. Schrup and his business associates were granted a charter on December 27, 1911, by the State of Iowa for the German American Savings Bank that opened for business in January 1912. Schrup served as the bank's first president.
Schrup served as president of the Pioneer Trust and Savings Bank, and the National Reserve Insurance Company. He was a director of the Consolidated National Bank, regent of COLUMBIA COLLEGE, and president of the board of education. In 1910 Schrup was elected a state senator by the largest majority ever given a candidate until that time.