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 office building 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 building 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 Des Moines

2004 — Bank Iowa West Des Moines opens temporary office; Humboldt Trust and Savings Bank are renamed Bank Iowa; Panhandle Aviation, Inc. is renamed Bank Iowa Corporation

2005 — Bank Iowa Red Oak opens new facility in Shenandoah

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 — Charters are consolidated

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 D+H Phoenix is completed in May; loan production office opens in Pella.