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In 2008 we experienced a challenging economy both on a national level as well as our local markets. First National Bank had a solid year in 2008 marked by net income of $2,250,511 and a 15 percent increase in our loan portfolio made up of loans to local individuals and businesses fortified our balance sheet with strong capital, adequate reserves, and quality loans and investments. We continued our community banking philosophy; avoided the types of loans that got many financial institutions in difficulty; and provided safety to our depositors, supported by our financial strength as well as the current FDIC insurance limit up to $250,000. Our bank recently received an “outstanding” rating from the Comptroller of Currency on our Community Reinvestment Act exam. This rating recognizes our ongoing investment in our communities and strong efforts to meet the borrowing needs of individuals and businesses in our trade area. Our bank was one of only seven banks across the country to receive a Community Bank Service Award from the Independent Community Bankers Association for service performed in our markets. The award resulted from the fine volunteer efforts of our staff. We had the opportunity to apply for Troubled Asset Relief Program (TARP) money from the federal government, but declined. We are well-positioned going forward with a strong capital base and will continue to meet the credit needs of our markets. We made the decision not to request TARP money in November 2008, and we have not regretted that action. We are proud to offer our customers the stability and safety of one of Iowa’s oldest community banks as well as innovative lending, deposit and investment products. Our electronic banking products such as Money Connection Online, Bill Payer and E-Statements allow you to do your banking safely and securely. Online or at one of our six convenient locations, First National Bank is serving you first. From Rich Carlson, President and CEO |
CURRENT CD RATES
| APY as high as: | Rate |
| 11 Months | 1.70% |
| 36 Months | 2.45% |
| 60 Months | 3.05% |
| Rates Subject to Change | |
News
Tips for a More Secure Online Shopping ExperienceMore than half of consumers are expected to do their holiday shopping over the Internet this year. The Independent Community Bankers of America (ICBA) today issued tips to help consumers stay safe and secure when ordering online.
Tips to Manage Your Checking Account Wisely
Protect yourself against overdrafts with these helpful hints and suggestions.
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