In 2004, Iowa State Bank celebrated its 125th anniversary as a bank with over $214,638,000 in assets. This is the original Hull Bank Charter originated by the Baumann Brothers in 1879. On March 26, 2004, Iowa State Bank purchased the American Interstate Bank branch in Paullina, Iowa from the James family of Omaha. The bank began with its first meeting on March 31, 1886 as the Farmers State Bank of Paullina, Iowa with original stock of $25,000.
September 20, 2004 Iowa State Bank purchased two branches of First Federal Bank of Siouxland in Sheldon and Orange City, Iowa. These two offices were from the original First Federal Savings and Loan Association of Sioux City that was founded in 1923. The Orange City branch was opened in April 1974 and had a deposit base of $10,136,522 and loans of $6,229,542, while the Sheldon branch was opened in April 1976 and had a deposit base of $16,956,932 and loans of $10,799,788. In 1992 they converted from a mutual holding company to form a fully-converted stock form of ownership and came under the ownership of First Federal Bancshares, Inc.
In February 2005, Iowa State Bank opened a new branch office in Sanborn, Iowa. The Sanborn office was opened in a 960 square foot building on Main Street with three staff members. The office was opened to service existing Sanborn customers banking in its Sheldon office and at the former Sheldon First Federal Bank office which was acquired in 2004. During that time a new building was being built on the highway and on January 11, 2007 the bank opened its doors for buisiness.
Craig Branch
05 Oak Street
Le Mars, IA 51031
Hull Branch
1101 Main St
Hull, IA 51239
(712) 439-1025
