Central Bancshares history

In 1985, Farmers Savings Bank of Kalona purchased a controlling interest from the major stockholders and continued to operate the institution as a separate, independent entity.

In 1989, the bank opened the first full-service, seven-days a week office in the Eagle Food Store on North Henderson.

Three generations of the family served as President prior to the sale of the institution to Central Bancshares, Inc., in 1994.

By contrast, after providing funds following the attacks of 9/11 and the technology bust of 2001, it permitted the additional funds to remain in the money market once the threat of crisis was over.

In 2002, the bank expanded beyond the Kalona market, building a new facility at 1st Avenue and Holiday Road in Coralville, Iowa.

In 2004, the bank built a new branch at 1230 North Henderson Street.

In 2005, the bank branched beyond Muscatine for the first time, opening an office in Wilton, Iowa.

The Fed followed these rules in September 2007, although it is unclear whether the funds were provided at a penalty rate.

May of 2012 once again brought growth.

A year later, in mid-2013, our three Iowa banks – Central State Bank, Freedom Security Bank and West Chester Savings Bank – came together under a single charter, Central State Bank.

In mid-2014, the bank was merged into Central State Bank, Muscatine, Iowa.

The bank was purchased by Central Bancshares, Inc., on April 1, 2015 and concurrently merged into Central State Bank, Muscatine, Iowa.

On July 1, 2016, the aquisition of Brimfield Bank, Brimfield, Illinois was completed.

In August, 2019, the bank entered into an agreement to be purchased by Central Bancshares, Inc., a transaction which was completed on December 12, 2019.