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History
 The Iowa Savings Bank started in 1902 in Coon Rapids, Iowa. The founders listed at the time of state chartering were: Warren and Edward Garst, Mrs. Charles (Laura) Garst, S.D. Henry, F.C. Jones and George Cretsinger.
Ownership of the bank has changed over the years but remains local today with Harold and Antonia Lee, and Bill and Karen Hess. Bill Hess has served as president of the bank since 1984 and Richard Fulton is CFO. The bank’s board of directors consists of Bill Hess, Tom Farner, Dierk Halverson, Ron Juergens, and Gene Vincent.
 In February 1991, Iowa Savings Bank acquired a $22 million deposit branch of American Federal Savings Bank located in Carroll, Iowa.
In June of 1994 the Farmers National Bank of Bayard, Iowa with assests of $9.4 million merged into Iowa Savings Bank.
 In 1998 the Iowa Savings Bank established a new 4 lane drive-up facility on the East side of Carroll.
The Iowa Savings Bank purchased the $10 million deposit of Commercial Federal Bank of Lake City in July 2001.
Lake City Office
Iowa Savings Bank’s newest addition includes an office in Glidden, Iowa.
Glidden Office
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| Back
Row Left to Right:
Ron Juergens, Dierk Halverson, Tom Farner
Front Row Left to Right:
Gene Vincent and Bill Hess
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Statement
of Condition
We are a bank. A bank
functioning in different ways. We believe it is important first of all
to serve the needs of our customers whether it be as a safe haven for
their funds or as a source of funds for public, business, family and personal
needs. Our history, our record, and our bank statement which follows are
a reflection of our mission.
Condensed
Statement of Condition
Iowa Savings Bank
December 31, 2008
|
ASSETS |
| Cash
and Due from Banks |
$7,458,583.43 |
| Fed Funds Sold |
$1,577,000.00 |
| U.S.
Treasury & Agency Securities |
$18,172,718.23 |
| Other
Bonds and Investments |
$31,382,798.03 |
| Total
Loans and Leases |
$96,181,156.74 |
| Bank
Premises and Fixtures |
$3,412,589.14 |
Other
Assets
|
$2,563,274.19 |
| TOTAL
ASSETS |
$160,748,119.76 |
|
LIABILITIES |
| Total
Deposits |
$142,012,380.36 |
| Other
Borrowed Funds |
$400,000.00 |
| Other
Liabilities |
$3,956,529.31
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TOTAL LIABILITIES
|
$146,368,909.67 |
| Capital
Stock |
$1,567,000.00 |
| Surplus |
$3,426,000.00 |
| Undivided
Profits |
$6,978,022.66 |
| Loan
Loss Reserve |
$1,804,526.96 |
| Unrealized
Gain on Available for Sale Securities |
$603,660.47 |
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TOTAL
CAPITAL FUNDS
|
$14,379,210.09 |
| TOTAL
LIABILITIES AND CAPITAL |
$160,748,119.76 |
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