Iowa Trust & Savings Bank Earns S&P Honors
titution with a long history of service to the community and the area has received national recognition. The Iowa Trust & Savings Bank was recently honored as one of the top community banks in the United States by the Standard and Poor’s Global Community Bank Conference, which took place April 12 in Orlando, FL.
Iowa Trust and Savings Bank was recognized as the 68th best performing community bank in the United States, with $1 billion assets or less.
Kris Ausborn, president and CEO of Iowa Trust, accepted the award on behalf of the bank’s 28 employees. Speaking of the employees, Ausborn said, “Their dedication to assisting our customers, providing excellent service, and developing successful bank relationship resulted in Iowa Trust receiving this national award.” JP O’Sullivan of S&P Global presented Ausborn the award.
Standard & Poor’s used various metrics to rank the financial institutions, including loan quality, capital, income and loan growth. The metrics were combined for a final score.
Standard & Poor’s Global Ratings and its predecessor organizations have been in business for more than 150 years. S&P is the world’s leading provider of credit ratings with more than 1 million credit ratings outstanding on government, corporate, financial sector and structured finance entities and securities. S&P ratings are essential to driving growth, providing transparency and helping educate market participants so they can make decisions with confidence.
S&P’s analysts, managers and economists assess the factors and trends that affect creditworthiness. To inform credit opinions, S&P engages in frequent dialogue with senior managers and industry leaders, and analysis cover areas ranging from the state of an enterprise and its position in its industry, to the economic health of regions around the world.
The Iowa Trust & Savings Bank opened for business on June 5, 1929. J. A. Spies recognized the need for a locally-owned, community bank and organized a group of Emmetsburg businessman to charter a new financial institution.
Over the following decades, the mission of Iowa Trust & Savings has remained focused on the area residents who have supported Iowa Trust over those years – the customers, bank staff, the communities served bu the institution and the shareholders.
The local ownership first provided by J. A. Spies continues into the fourth generation of the Spies family.
The Iowa Trust & Savings Bank has $235 million in assets. The bank has offices in Emmetsburg and Clive and is affiliated with Panora State Bank in Panora.