We have some exciting news to share with our valued customers!
For 155 years, we have remained locally owned and community focused; having operated as a National Bank since 1884. Since that time, First National Bank has been regulated as a National Bank Charter and under the supervision of the OCC. After much consideration the decision was approved by the Board of Directors to change the charter from a National Bank to a State Bank.
With the change in charter we also need to make a name change and effective October 7, 2020, First National Bank will become First Bank. With a fresh new look, First Bank will continue serving our customers and communities with the same staff, same products and same dedication we have had since 1864.
The change from a National Charter to a State Charter has not been taken lightly and has been discussed and reviewed by the Bank’s Leadership Team and Board of Directors over several months and has been considered at different times over the past several years.
There have been many factors in deciding to make this change but the most important will be our ability to better serve our customers while continuing our strong credit standards and high level of customer service standards. By changing to a State Charter, the local perspective and knowledge of our state economy at the Iowa Division of Banking will allow our employees to focus on serving our customers using state and local regulations, which are better suited for our communities’ financial needs.
This is an exciting time in the history of our bank and we are confident the change in the charter will have a long lasting positive impact on the success of the bank. We know this is a big change to the face of our bank, but the one thing that remains the same is that we are here to serve our customers first!
Thank you for your continued support of your company. Please contact us with any questions or comments you may have.
Susan Whitson, CEO
Steve Willemssen, President