It was an important part of the economic development of Berwyn and is associated with its Central European heritage.

This growth was due to the industrial plants in neighboring Cicero, which brought immigrants from Chicago's west side to the suburbs.

Berwyn became a haven for Czechs, who moved from Chicago after being displaced by Polish populations.

Joseph Cermak and Albert Novotny purchased a large landholding from Biacor Hindman, spurring further growth.

The American State Bank held approximately $1.9 million in assets by 1929.