Question 1

What is Blue Grass Savings Bank?

Accepted Answer

Blue Grass Savings Bank is a community-focused commercial bank headquartered in Blue Grass, Iowa. Established in 1902, the bank operates as a state-chartered institution supervised by the FDIC and functions as a subsidiary of E M F Corporation.

With approximately $226 million in total assets and $187 million in deposits, Blue Grass Savings Bank specializes in serving the banking needs of families, individuals, agricultural operations, and small businesses throughout the Davenport-Moline-Rock Island metropolitan area. The bank maintains two full-service branches in Iowa with a staff of 18 employees.

Question 2

When was Blue Grass Savings Bank founded?

Accepted Answer

Blue Grass Savings Bank was founded in 1901 when 104 investors subscribed to 140 shares of stock totaling $14,000. The first shareholder meeting was held at the Henry Hintz Hall on September 24, 1901, where the initial board of directors was elected, including W.I. Vandevear as President, Julius Schiele as Vice President, and Henry F. Wunder as Cashier.

The Articles of Incorporation were approved on October 23, 1901, and construction began on the original building at the corner of Mayne and Mississippi Streets. The bank officially opened for business on January 4, 1902, with total assets of just $19,402.16 one week after opening. The original building cost $44,344.45, including the lot and fixtures, with expenditures such as $715 for a safe from the Diebold Company.

Question 3

Where is Blue Grass Savings Bank headquartered?

Accepted Answer

Blue Grass Savings Bank is headquartered at 104 East Mayne Street in Blue Grass, Scott County, Iowa. The bank has undergone several facility transformations throughout its history. The 1902 original building was expanded and remodeled in 1947, then demolished and replaced with a new structure in 1971. The current red brick building was constructed in 2006, providing modern banking facilities while maintaining the bank's community presence in downtown Blue Grass.

Question 4

Where does Blue Grass Savings Bank operate?

Accepted Answer

Blue Grass Savings Bank operates exclusively within Iowa through two branch locations in Scott County. The bank's primary service area covers the Davenport-Moline-Rock Island, IA-IL metropolitan statistical area, focusing on the Blue Grass community and surrounding areas.

As a locally-owned community bank, Blue Grass Savings Bank concentrates its operations on serving the financial needs of residents and businesses in its immediate geographic region. The bank does not have offices outside Iowa and maintains its commitment to local community banking.

Question 5

What services does Blue Grass Savings Bank offer?

Accepted Answer

Blue Grass Savings Bank offers a comprehensive range of personal and business banking services, including:

Personal Banking: Personal checking accounts, savings accounts, certificates of deposit (CDs), retirement plans (IRAs), and consumer loans including personal loans and residential real estate loans.

Commercial Banking: Business checking accounts, commercial real estate loans, commercial loans, and agricultural loans tailored to support local farming operations.

Digital Services: The bank provides modern online banking services, mobile banking applications, and bill pay capabilities, allowing customers to manage their accounts 24 hours a day, seven days a week from anywhere. These digital services complement traditional in-branch banking.

Other Services: The bank holds fiduciary powers and exercises trust powers, enabling it to provide specialized financial services beyond traditional banking.

Question 6

What makes Blue Grass Savings Bank unique?

Accepted Answer

Blue Grass Savings Bank's uniqueness stems from its remarkable longevity and deep community roots spanning over 120 years. The bank has been continuously owned and operated by community members since 1902, with current ownership involving over 100 local shareholders who maintain the bank's commitment to personalized service.

Throughout its history, the bank has demonstrated resilience through multiple economic challenges including the Great Depression, agricultural hardships, and banking industry consolidation. The institution has maintained its independence while successfully adopting modern technology.

The bank's early history includes interesting operational details, such as extending Saturday hours to 8:30 PM in 1912 to serve working families, and paying its first President just $12 annually in 1906. This tradition of accessibility and community-first banking continues today, distinguishing Blue Grass Savings Bank from larger regional competitors.

Question 7

What type of financial institution is Blue Grass Savings Bank?

Accepted Answer

Blue Grass Savings Bank is classified as a Commercial Bank with a state charter. The bank operates as a state-chartered commercial bank that is a non-member of the Federal Reserve System and is supervised by the Federal Deposit Insurance Corporation (FDIC).

This classification means the bank provides a full range of commercial and retail banking services while maintaining FDIC insurance protection for depositors. As a state-chartered institution, Blue Grass Savings Bank operates under Iowa banking regulations and FDIC oversight. The bank specializes in community banking, categorized as "All Other Under 1 Billion," focusing on relationship-based banking services for individuals, families, farms, and small businesses within its local market area.

Blue Grass Savings Bank

in the United States 🇺🇸

Crypto-Friendliness

All done!

About Blue Grass Savings Bank in the United States