Question 1

What is Hardin County Savings Bank?

Accepted Answer

Hardin County Savings Bank is a locally-owned community bank specializing in agricultural and rural community banking services. With approximately $409 million in total assets and 2 branches, the bank serves the communities of Eldora and Union, Iowa, along with surrounding areas in central Iowa. As a state-chartered commercial bank, HCSB focuses on meeting the financial needs of agricultural businesses, farmers, and rural residents while maintaining a strong commitment to community reinvestment.

The bank operates as a subsidiary of Hardin County Bancorporation and holds FDIC insurance under certificate number 5817.

Question 2

When was Hardin County Savings Bank founded?

Accepted Answer

Hardin County Savings Bank was founded on December 20, 1868, in Eldora, Iowa, making it the 7th oldest bank in Iowa. The institution was organized by seven men: H.P. Liscomb of New York, Thomas Kensett of Baltimore, George Green of Cedar Rapids, F.W.H. Sheffield of Dubuque, and H.L. Huff, E.W. Eastman, and C. McKeen Duren of Eldora.

The bank's first officers were F.W.H. Sheffield as President, E.W. Eastman as Vice President, and C. McKeen Duren as Cashier. Five of the seven founding board members were involved in the Eldora railroad, which was built that same year from Ackley to Eldora, reflecting the bank's origins in supporting regional economic development.

The bank was originally named Citizens Savings Bank and underwent several name changes throughout its history. It became Hardin County Savings Bank of Eldora, Iowa in 1940, and adopted its current name, Hardin County Savings Bank, on December 1, 1981.

In 1959, the bank was purchased by a group of businessmen headed by Robert R. Brown. The Brown family has continued to lead and actively participate in the day-to-day operations of HCSB for over six decades. In 2018, the bank celebrated its 150th anniversary.

Question 3

Where is Hardin County Savings Bank headquartered?

Accepted Answer

Hardin County Savings Bank is headquartered in Eldora, Iowa, located in Hardin County. The main office is situated at 1202 Edgington Avenue, Eldora, IA 50627.

The bank relocated its main office to this location in 1968 as part of its growth and modernization efforts.

Question 4

Where does Hardin County Savings Bank operate?

Accepted Answer

Hardin County Savings Bank operates exclusively in Iowa with 2 full-service branches. The bank's locations include its headquarters in Eldora and a branch in Union, Iowa at 204 Center Street.

The bank primarily serves Hardin County and surrounding rural communities in central Iowa. Its geographic focus allows it to maintain deep relationships with local agricultural businesses, farmers, and residents throughout the region.

Question 5

What services does Hardin County Savings Bank offer?

Accepted Answer

As a full-service community bank, Hardin County Savings Bank offers comprehensive banking solutions tailored to rural communities and agricultural businesses. The bank's services include:

Agricultural Banking: Operating loans, equipment loans, agricultural real estate loans, and specialized financing for farmers and agribusinesses, reflecting the bank's agricultural specialization designation.

Lending Products: Home loans for first-time buyers and custom home construction, consumer loans, business loans, and lines of credit. The bank emphasizes channeling loan dollars back into local neighborhoods.

Deposit Accounts: Premium checking accounts with competitive interest rates, business checking, savings accounts, and money market accounts.

Digital Banking: Online banking and mobile banking platforms with modern technology features, including mobile deposits, balance monitoring, transaction review, and account management tools accessible from computers and mobile devices.

Trust Services: Full fiduciary powers and trust services for estate planning and wealth management needs.

The bank employs approximately 33 staff members dedicated to providing personalized service and local decision-making.

Question 6

What makes Hardin County Savings Bank unique?

Accepted Answer

Hardin County Savings Bank distinguishes itself through its extraordinary community commitment and longevity. The bank has been serving Iowa communities for over 156 years with the motto "Together With You for Life Since 1868."

Community Investment: In 2023 and 2024, HCSB donated $288,065 to local communities and organizations. Bank staff members annually contribute over 2,500 volunteer hours to approximately 70 local organizations, demonstrating an exceptional level of community engagement.

Local Ownership and Leadership: The Brown family has owned and actively operated the bank since 1959, with current President and CEO David J. Vander Wilt representing three generations of family leadership. This continuity ensures stable, relationship-focused banking with local decision-making authority.

Agricultural Expertise: With its official agricultural specialization designation, HCSB possesses deep knowledge of farm finance and rural economic needs, positioning it as a trusted partner for Iowa's farming families.

Historic Legacy: As Iowa's 7th oldest bank, HCSB maintains treasured historical ledgers and keepsakes at its Eldora location, preserving over 150 years of Iowa banking history.

The bank's pledge emphasizes excellent customer service, innovative products, state-of-the-art technology, and a commitment to ensuring customer financial success through genuine partnership.

Question 7

What type of financial institution is Hardin County Savings Bank?

Accepted Answer

Hardin County Savings Bank is a State Chartered Commercial Bank. It operates under a state charter rather than a national charter and is not a member of the Federal Reserve System.

As a state-chartered, FDIC-supervised commercial bank, HCSB is regulated by the Federal Deposit Insurance Corporation rather than the Office of the Comptroller of the Currency. This structure allows the bank flexibility in its operations while maintaining federal deposit insurance protection for customers.

The bank also holds S-Corporation tax status and maintains full fiduciary powers, which it actively exercises through its trust services. Its classification as an agricultural specialization bank reflects its focus on serving farming communities and rural markets throughout central Iowa.

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