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 Bill and Karen Hess, and Timothy Lee. Bill Hess has served as president of the bank since 1984. The bank’s board of directors consists of Bill Hess, Tom Farner, Dierk Halverson, Gene Vincent and Dick Fulton.

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 assets 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:
Dierk Halverson, Richard Fulton, 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, 2016

  Cash and Due from Banks
  U.S. Treasury & Agency Securities
  Other Bonds and Investments
  Total Loans and Leases
  Bank Premises and Fixtures
  Other Assets
  Total Deposits
  Borrowed Funds
  Other Liabilities
  Capital Stock
  Undivided Profits
  Loan Loss Reserve
  Unrealized Loss on Available for Sale Securities

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