Iowa bank outgrows building after five years

Northwestern Financial Review, Mar 15-Mar 31, 2004

Peoples Savings Bank, Indianola, Iowa, has outgrown its 5,000-square-foot building after five years in business. Started late in 1998, the bank has grown to $80 million in assets; the bank expects to move into a newly constructed office with 15,000 square feet of space in time to celebrate its sixth anniversary.

"One of the biggest constraints for us right now is we only have one drive-up," said Kevin Halterman, president/CEO. "Our new facility will have three drive-ups and be multi level." The new bank is being built between the Super Wal-Mart and a new Hy-Vee grocery store on Buxton Drive in Indianola.

Kirk Gross Co., Waterloo, Iowa, is designing the new building. The foundation work is complete, the modular vault is installed and the contractors are making good progress, said Kirk Gross representative, Chuck Yagla.

Peoples Savings Bank has branches in MiIo, Lacona and Carlisle and recently launched Peoples Mortgage Company.