From time to time, the bank is the subject of news coverage, press releases and informational updates. Highlights are provided below in date order, starting with the most recent item.
The merger represents a joining of forces of the three Iowa banks owned by Muscatine-based Central Bancshares, Inc. Because no purchase or sale is involved, and because all three currently use the same company-owned data processing system, the transaction is expected to be extraordinarily smooth.
"No action is required on the part of our customers," said Bob Howard, President and CEO of Central State Bank. "Account numbers will not change, and they can continue using their existing debit cards, checks and other materials. Online and mobile banking usernames and passwords will remain the same as well."
"We will be reissuing credit cards, but that won’t happen until late August," Howard said. "We’ll be in touch with our cardholders before that happens."
For the time being, Freedom Security Bank and West Chester Savings Bank will continue to operate under their existing names, although from a legal perspective they are becoming offices of Central State Bank.
"Over the course of the summer, we’ll be making some behind-the-scenes adjustments that will enable our customers to transact business at any of our eight locations in Washington, Kalona, Coralville, Wilton and Muscatine," Howard said. "We hope to have this finished by September 1, and we’ll be in touch to pass along further information once this is completed."
"Dan’s involvement and leadership of our commercial and agricultural banking team has contributed greatly to the overall performance of our loan portfolio," noted Bob Howard, President and CEO. "His contributions have helped us grow loans, manage our credit risk and provide great service to our customers. Dan’s financial expertise, coupled with his business and community leadership, make him an outstanding choice to fill this important position for the bank."
Stein began his banking career with LaSalle Bank in Chicago before joining Central State Bank in 2008 as a Commercial Banking Officer. He was subsequently promoted to Vice President in 2011. He is a graduate of Iowa State University, where he majored in accounting and finance, and he has passed the CPA and CFA examinations.
Highlights included presentations by crop insurance experts Tom Norton and Jason Norton; Steven D. Johnson, PhD, Farm and Ag Business Management Specialist from Iowa State University; and Jon Holthe, Certified Financial Planner and Senior Trust Officer at Central State Bank.
Ag exhibitors included ADM, Advance Trading, The Climate Corporation, Keith Frieden Excavating, Rain and Hail Insurance Services, John Deere Insurance Company, and a number of others.
Derry McGuire began her career with Central State Bank in 1968 and served in several operations and data processing capacities over the years. She was Data Security Officer for the bank’s parent company, Central Bancshares, Inc., at the time of her retirement.
Bill Nus, who joined Central State Bank in 1976, served in managerial capacities in retail/branch banking, consumer lending, and compliance during his career. He was Vice President and Compliance Officer for the bank at the time of his retirement.
Bernadette “Bernie” Stewart, joined the organization in 1993 and managed the mortgage lending area of Central State Bank. She was Vice President, Real Estate Lending for the bank at the time of her retirement.
A public open house and reception for McGuire, Nus and Stewart was held at the Main Bank on Thursday, December 20th.