Iowa State Bank holds annual meeting

The 20th annual meeting of the shareholders of Iowa State Financial Services Corporation was held in the lobby of the downtown branch of Iowa State Bank and Trust Company on Monday, June 15, 2020.

David Eastburn was appointed the chairman and presiding officer, while Deanne Hickenbottom was appointed as the secretary of the meeting.

A resolution from the shareholders was passed unanimously approving all of the actions of the directors and officers of the corporation for 2019. Additionally, Pat Kessel, Jared Lyle, and Tom Thompson were unanimously re-elected to the board of directors for a 3-year term of office.

In other action, the board of directors of Iowa State Bank and Trust Company unanimously elected Aaron Kness as President and CEO; Jared Lyle as Senior Vice President and Senior Lending Officer; Dena Morrissey as Vice President of Customer Service and Customer Service Manager; Karl Metcalf as Vice President of Lending; Jane Broek Kramer as Vice President of Lending; Laura Brinck as Vice President of Lending; Laurie Smith as Vice President of Investments and Cash Management; Tami Kramer as Vice President of Lending Administration/Lending; Mark Swan as Vice President and IT Manager; Samuel Eastburn as Assistant Vice President of Operations; Ashley Eastburn as Assistant Vice President and Lead Loan Service Representative; and Scott Willman as Bank Security Officer and Compliance Officer.

David Eastburn was elected as the President of the Corporation and the Chairman of the Board of Directors for Iowa State Bank and Trust Company; Aaron Kness was elected as the Vice President of the Corporation; Jared Lyle was elected as Vice President of the Corporation; and Deanne Hickenbottom was chosen as the Corporation's Chief Financial Officer and its Secretary.

David Eastburn reviewed the financial condition of the organization and its subsidiary bank, Iowa State Bank and Trust Company, located in Fairfield, Iowa. He thanked the shareholders for their support and expressed appreciation to the board, senior management, and all of the staff for their hard work and efforts during this time of substantial growth. Chairman Eastburn went on to say, 'Despite economic and competitive pressures, Iowa State Bank and Trust has moved in a very positive direction, achieving 68% growth in assets since December of 2012. Strategic decisions taken in 2012 and 2013 have resulted in very strong financial results to include growing loans 92% while maintaining outstanding asset quality. The entire organization is in a very strong position to enjoy success for years to come.”

Iowa State Financial Services Corporation is a bank holding company headquartered in Fairfield, Iowa.