Question 1

What is Breda Savings Bank?

Accepted Answer

Breda Savings Bank is a community-focused savings bank serving Carroll County in western Iowa. With approximately $98.5 million in total assets and $77.7 million in deposits, this locally-owned institution operates as a single-office bank in the small town of Breda.

The bank specializes in traditional community banking services with a personal approach, emphasizing first-name relationships with customers and neighbors. As a well-capitalized institution with disciplined management, Breda Savings Bank maintains strong asset quality and liquidity while serving the financial needs of its rural community.

Question 2

When was Breda Savings Bank founded?

Accepted Answer

Breda Savings Bank has been serving the Breda community since 1890, making it one of Iowa's longstanding financial institutions with over 130 years of history. The bank was formally incorporated on January 17, 1906, when it officially adopted the name Breda Savings Bank.

The original officers and directors on August 14, 1906, included Frank Van Erdewyk, Leo F. Snyder, J.H. Ricke, G. Von Glan, Gerhard Lammers, and John Olerich. Frank Van Erdewyk served as an officer for over 49 years, establishing a legacy of family ownership that continues to this day.

Question 3

Where is Breda Savings Bank headquartered?

Accepted Answer

Breda Savings Bank is headquartered at 105 Main Street in Breda, Iowa. The bank has occupied the same location since 1922, when the building was moved to its present site.

Originally, plans were made in 1922 to erect a new building on the original corner site. However, with the advent of the Great Depression years, which proved to be one of the most critical periods in banking history, those expansion plans were dropped. The bank successfully weathered the Depression era and remains at its historic Main Street location.

Question 4

Where does Breda Savings Bank operate?

Accepted Answer

Breda Savings Bank operates exclusively from its single office in Breda, Iowa, a small town in Carroll County. Breda is part of the Carroll, Iowa Core Based Statistical Area in western Iowa.

The bank serves the local community and surrounding rural areas of Carroll County. With only one domestic office, the institution maintains a focused geographic footprint, allowing it to provide personalized service to its customer base in this agricultural region of Iowa.

Question 5

What services does Breda Savings Bank offer?

Accepted Answer

Breda Savings Bank offers a broad range of traditional banking products designed to meet the financial service needs of individuals, families, and businesses in its rural community. Product offerings include:

Deposit Services: Checking accounts, savings accounts, certificates of deposit, and other deposit products that provide customers with secure places to manage their funds.

Lending Services: The bank provides various loan products to support local residents and businesses, including real estate loans, consumer loans, and agricultural financing typical of rural Iowa banks.

Online and Digital Banking: While maintaining its traditional community banking approach, the bank has developed product options to include modern conveniences for account management and transactions.

Question 6

What makes Breda Savings Bank unique?

Accepted Answer

Breda Savings Bank stands out for its remarkable family legacy spanning four generations. The Van Erdewyk family has been associated with the bank for over a century, representing continuity and stability rare in modern banking.

Frank Van Erdewyk was the first generation at Breda Savings Bank, serving as an officer for over 49 years. His son, M.F. Van Erdewyk, joined in 1920. G.A. Van Erdewyk became part of the institution in 1961, and Mike Van Erdewyk joined in 2008, representing the fourth generation of family involvement.

The bank's commitment to local ownership and management, combined with its philosophy of knowing customers on a first-name basis, distinguishes it from larger regional and national banks. The institution takes pride in maintaining strong financial fundamentals with disciplined management while remaining deeply rooted in community relationships.

Question 7

What type of financial institution is Breda Savings Bank?

Accepted Answer

Breda Savings Bank is classified as a State Savings Bank, operating under state banking regulations and insured by the Federal Deposit Insurance Corporation (FDIC). As a savings bank, it emphasizes deposit-taking and traditional lending services.

The institution operates as a community bank, meaning it focuses on serving the financial needs of local residents and businesses within a specific geographic area. With its single-office structure and local ownership, Breda Savings Bank exemplifies the traditional community banking model that prioritizes relationship banking over geographic expansion.

The bank's strong financial performance, with a Return on Assets (ROA) of 1.30% and Return on Equity (ROE) of 17.97%, demonstrates effective management of its community bank charter.

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