BANK IOWA HISTORY
An idea that took off and soared
Ours isn’t your typical bank story. In fact, when Bank Iowa founders Donald Duncan, J. Robert Duncan and Harry Barr first got together, it wasn’t because they wanted to create a bank. They were starting an aviation company. And that’s exactly what they did in Clarinda, Iowa, more than half a century ago.
It was from that entrepreneurial ambition and smart business leadership that one of Iowa’s most successful banks would eventually flourish. That same spirit helps us understand the real needs of today’s businesses, farmers, families and entrepreneurs all across Iowa.
From ambitious beginnings that date back to 1901 to becoming one of the largest family-owned community banks in Iowa, one thing has never changed and never will. Our dedication to serving our clients, team members and the communities we call home is steadfast. Bank Iowa Corporation continues to be owned by the Duncan and Barr families, and their community-centric values can be felt in every interaction we have with the people and places for which we exist.
BANK IOWA TIMELINE
A SHORT HISTORY OF BANK IOWA
1976 — Donald Duncan, Robert Duncan, and Harry Barr purchase Citizens State Bank in their hometown of Clarinda
1977 — New drive-in facility opens on northwest corner of Clarinda town square
1980 — Farmers Savings Bank in Fremont is purchased
1984 — Oakland State Bank is formed
1989 — Nodaway Valley National Bank is acquired; Humboldt Trust & Savings Bank is purchased
1991 — New Citizens State Bank branch facility opens in Villisca
1992 — Charter of Farmers Savings Bank moves to Oskaloosa
1993 — New Farmers Savings Bank opens in Oskaloosa; later renamed Bank Iowa
1994 — Bank Altoona is created; Oakland State Bank is sold
1995 — First National Bank of Essex is purchased; new Bank Altoona facility is completed
1996 — First National Bank of Essex moves charter to Red Oak
1997 — National Bank of Iowa in Denison is purchased; later renamed Bank Iowa
1998 — First National Bank of Red Oak opens new facility; Security Trust & Savings Bank in Shenandoah is purchased; Essex, Red Oak and Shenandoah banks are renamed Bank Iowa
1999 — U.S. Bank in Red Oak is purchased
2002 — Farmers State Bank in Schleswig is purchased; Bank Iowa Altoona opens temporary office in Newton
2003 — Bank Iowa Newton opens new facility; holding company moves offices to West Des Moines
2004 — Bank Iowa West Des Moines opens temporary office; Humboldt Trust and Savings Bank is renamed Bank Iowa; Panhandle Aviation, Inc. is renamed Bank Iowa Corporation
2005 — Bank Iowa Shenandoah moves into new facility
2006 — Bank Iowa West Des Moines and Bank Iowa Corporation move into new facility in West Des Moines
2007 — Bank Iowa West Des Moines opens branch in Johnston
2008 — State Bank of Lawler is purchased
2011 — Seven bank charters are consolidated into one charter
2012 — Long-time CEO Stan Honken and EVP Gary Beggs retire; Jim Plagge is hired as President and CEO; John Hartford is promoted to EVP and CLO
2014 — Facility in Manilla is remodeled
2015 — Bank Iowa Lawler moves into new facility; Norwood Operations Center opens in West Des Moines
2017 — Core upgrade to Finastra Phoenix is completed; Loan Production Office opens in Pella.
2019 — Bank Iowa acquires First State Bank of Colfax; Bank Iowa Pella moves into new facility; Administrative and Operations functions are centralized at the Pinehurst Building in West Des Moines
2020 — Bank Iowa Clarinda moves into new facility; Facility in Colfax is remodeled
