2023 Community Impact Report
As we look back on 2023, we are pleased to have this opportunity to share the achievements, progress, and impact of Iowa State Savings Bank over the past year.
Below are highlights from our report. We invite you to take a moment and read about all of our accomplishments and community efforts in our full 2023 Community Impact Report. Thank you for your continued trust and support.
2023 Community Impact Report | Inquire Form
140th Anniversary
ISSB was formed by a group of community investors who pooled their money to form the Bank in December of 1883. Longevity, experience, and consistency are words used to describe Iowa State Savings Bank's rich history. During our 140 years, ISSB has withstood numerous challenges and continually adapted to changing times. Through the efforts of generations of ISSB stakeholders, we persevered and remained a constant presence in Southwest Iowa. A legacy we will continue into the future.
Community Involvement
Founded by the community, a commitment to social responsibility is deeply ingrained in the bank’s culture and continues today. We strive to give back to our communities financially and by volunteering our time. We believe in Making Things Better for our employees, customers, and communities. Staff spent their time volunteering at fundraisers, and serving on board and committees. In 2023, we volunteered for a total of 2,471 hours, served on 47 boards, and held 25 officer positions.
Loans
We're a community bank with a deep understanding of the local agricultural industry and commitment to rural Iowa. We offer unique in-house financing solutions that remain in Southwest Iowa. Our relationship-first way of doing business allows you to have a dedicated lender throughout the loan process and beyond. Because of our commitment to local communities and customers, we opened 424 new loans for over $59 million in 2023.
Trustee
Iowa State Savings Bank was honored to be named Trustee for The W.D. & Shirley Schafer-Ray Educational Trust. As trustee, we award scholarships annually to students from Adair, Adams, Taylor, and Union counties. In the first two years, the Trust awarded over $401,400 to 62 local recipients.
Deposits
At ISSB, we strive to meet all your financial needs. We introduced new Relationship Checking accounts that reward you with cash back or interest rewards. We continue to adapt to the changing financial industry and offered competitive CD rates. With a full suite of convenient products and services, many community members made the switch to bank at ISSB. In 2023, we opened 1,239 new accounts and our CD balances grew by 33%.
In 2023, our financial performance ranked as one of our best years yet. While we celebrate our accomplishments, we are continuously seeking ways to improve our impact on the people and communities we serve. Helping you achieve financial success is the vision that drives our decisions, and we strive to make decisions that create a positive impact. We invite you to read our full 2023 Community Impact Report.
2023 Community Impact Report