Author Archives: Meredith Flattery

Banking With Buch

I still remember buying my first home and the feeling I had in knowing it was mine. You wanted to make it look the best you could, decorate it with all the things you loved, and personalize it to reflect your personality. Besides that sense of pride in ownership, it was also a good investment. By taking good care of your home, paying the taxes and mortgage payment, your investment value would grow, and in return, be worth more than when you purchased it.

Today, I am helping others in buying their own home and I get to re-experience those great feelings over and over again. It is exciting to be a part of this process for my customers and see those same emotions on their face. There are many things different in the process of getting a mortgage, but that end feeling of home ownership is the same. That is what I like most in my job.

If you are just thinking of buying a home, here are a few suggestions:

Check your credit score. You will want to have it in the range of 660 or above. If you need suggestions on how to raise your credit score, stop in and chat with me.
Save a little each month into a savings account. Not only will this help you build up a down payment, but it will also help you budget with cash flow and get used to a possible higher mortgage payment.
Don’t go out and make a big purchase prior to house shopping. Sometimes a purchase of a new vehicle will cause problems in qualifying for a house payment or limit you to a lower price range of home.
Employment strength is also important. Hopping from job to job allows for gaps of income and makes it harder to qualify for a mortgage.
Stop in and get more information. Sometimes there are special loan programs that can help you out financially. Information is free and we will take the time to answer all your questions.

Buying a home is one of the largest investments that most people will make in their lifetime. Enjoy your experience as much as you enjoy your new home. One of my favorite quotes is “It’s not about the destination. It’s about the journey to get there.”

– Sue Buch, VP Real Estate Lending

Cyber Security from Swan

Picture this: You’re sitting at home, watching your favorite Janet Yellen video clips on YouTube. You’ve got your big bowl of organic popcorn, a glass of free-range grapefruit soda and your cozy gluten-free slippers. Janet’s just begun her testimony before the House Financial Services Committee, and you can barely contain your excitement…

Suddenly, the phone rings. CallerID reports the number as “000-000-0000 – Unavailable”, but you’ve already paused the video so you answer anyway. Your disinterested “Hello?” is met with a couple of seconds of silence, a muffled, mechanical click-beep, and a somewhat obviously prerecorded voice…

“Hello sir/madam. What is the name of the street your maternal grandmother grew up on?”

Chances are, you’re not going to answer that question, right? RIGHT?!?!

Yet, seemingly every minute, people are putting the answers to questions like this (and many others) out there for the world to see on social media networks, via those cute little surveys shared amongst “friends”, under the guise of “getting to know one another a little better”. Everything from your first pet’s eye color to your uncle’s favorite song involving a mandolin. Thirty questions designed to bring you closer to your friends…and make it incredibly easy to hijack your financial security.

Debit card thieves are putting Facebook to work as soon as they get their hands on your card. The less-savvy ones are looking for birth dates and anniversaries for PIN codes for the easy ATM or purchase grabs. The scary ones are building life inventories for larger windfalls, such as home/auto loans and other credit accounts, or opening deposit accounts in your name to be used as a placeholder for even larger scale fraud. And you’re handing it to them on a silver platter. Your favorite book. Your first car. Your high school English teacher. Many of the questions on those surveys are ripped straight from the security question database that many websites (including our own online banking) use to identify you. Some are word-for-word, others are more subtle and buried amongst 20 other seemingly harmless questions.

Even if you keep close tabs on who you “Friend”, and are sure to set privacy settings on your posts to only be visible to those “Friends”…how confident are you that those “Friends” are doing the same? If someone compromises an account on your Friend list, how much can they find out about you?

– Mark Swan, IT Manager/Network Administrator

Ranching with Russ

The old saying “Knee high by the 4^th of July” seems a little crazy now that the corn is mostly waist high in the first half of June. It’s hard to picture over a month ago that I was out walking our two dogs on a cool, crisp morning. While the dogs were doing their business, I looked over at my neighbor’s fields that were tilled up. I was able to spot the rows of corn sprouting through the crust. My neighbor’s John Deere tractor and planter were parked at the end of the lane after a night of planting soybeans, ready for the next day’s freshly tilled field work. I imagined how much farming has changed since the land was first surveyed and parceled by the original owners. It is hard to visualize now what farming would’ve looked like with the farmers using teams of horses to clear and work the land. I remember spending time with my grandparents and great grandparents listening to them talk about growing up in rural Iowa. Can you imagine living through the Great Depression and then witnessing the booms in farming after World War II?

I enjoy looking over vintage aerial photos of our local farmsteads and how they’ve changed over the years. Not only aesthetically but, in functionality as well. The old photos displaying magnificent barns with hay lofts, corn cribs, farrowing sheds, and chicken houses give perspective of a different time. The newer photos of the same farms show the transition over to Morton-type pole barns, grain bins with legs, and hoop buildings. I was born in 1973 so I can remember how the rural Iowa landscape changed at that time with a horizon dotted by blue Harvestore silos. Unfortunately, that agricultural “boom” didn’t last either and the farm crisis of the 1980’s was deeply engraved in my memory as well. It definitely affected my family while growing up on our farm in Southeast Iowa and changed rural America forever.

Growing up on a farm in the 80’s and early 90’s was not easy after the crisis. However, we re-grouped and learned to get by on a little less while working a little harder. This is a large part of why I enjoy working with farmers today. It is gratifying for me to be a part of the process whether it be helping with a beginning farmer loan or helping a customer expand their current farming operation. Our experienced lenders will help you take advantage of opportunities in the good times and figure out prudent solutions in the down times with responsible lending practices. That’s the great thing about our locally owned and operated bank. The lending decisions are made by people who live in the areas we serve and who understand the needs of our customers.

I’m sure you can tell by now that I’m a little nostalgic. Our country’s checkered history intrigues me. Poncho and Lefty on the radio, old photographs, and faded patina farm tractors always catch my attention. At Iowa State Bank & Trust Co., we have had our doors open since 1934. We’ve seen a lot of changes happen with community banking and farming in rural Iowa over the years. We’ve been here through the good and not so good times. We are merely a reflection of our past, present, and future customers.

– Russ McGee, VP Ag Lending

Banking with Booth

For me, the most rewarding and satisfying part of my job has always been helping people buy that special ride they’ve been looking for, their kids’ first car, or if you’re like me, it’s simply time to upgrade a little. I’ve been doing this for a while now, and I have to tell you, it never gets old.

Many of us can recite every car, truck or motorcycle we ever owned. For most of us, it was a “rite of passage” as a teenager and a measure of pride and success as an adult.

The first car I remember was my Great Aunt Lucille’s red Mercury with push button controls. And like “Dennis the Menace” I so wanted to push those pretty buttons. (I was very, very young 🙂 ).

When Steve and I were married in 1971, he had an Oldsmobile he bought from his grandparents. The day of our wedding, his buddies hooked the horn to the brakes. When we drove away from the church in Richland to head to Cedar Rapids, the horn blared every time Steve stepped on the brakes! Ahhhh, good times.

Our next car was a Chrysler New Yorker Steve bought at an auction. The day after the auction, the previous owner knocked on our door explaining he had left some pictures under the driver’s seat and would we mind if he retrieved them. Of course we didn’t mind, but I have wondered just what (or who) those pictures were of.

We had two Buicks next. When we traded our first one in, the dealer called the next day. We had left two 50 lb. bags of oats and a pair of work boots in the truck. He seemed surprised. Apparently he didn’t deal with a lot of farmers.

In 2002, I bought my very first brand new car. I’m still driving it, but I’m starting to contemplate the possibility of getting something a little newer………………and with a backup camera. That’s a story for another time!

At Iowa State Bank & Trust Co., we have many great loan products and skilled bankers to make the entire process quick and easy. As a locally owned bank, you will always know where to come to, no matter what your financing needs may be. Let’s you and I sit down and see what we can do to put you in a new or used car of your choosing. I’m on the first floor at our 4^th and Burlington location.

– Susan Booth, VP Consumer Lending

Konnecting with Karl

I’ve had the pleasure to work with customers at Iowa State Bank now for almost 4 years in my capacity as the commercial lender. However, even many of my friends don’t really know what that means and still ask me what I really do.

Sure, I make loans for business owners and commercial endeavors, but that isn’t what I think is most descriptive of my role. Every industry has its own unique set of challenges and each business its own set of strengths and weaknesses. What I do is help our business customers understand the risks they face and properly manage those risks for the best possible financial outcome for their future.

How I go about this reminded me a little like how my wife, Morae, and I decided upon having children. We sat down and talked out all the risks, pros and cons, and what-ifs we might face. After becoming completely terrified of this prospect, we decided to start our family anyway.

In reality, we felt comfortable with all the risks because we understood how we would deal with them if/when they arise. It is similar when making large decisions in business such as making an investment in technology, inventory, or growing employees. What I enjoy most about my job is sitting down with my customers to discuss the decisions they face to help them better understand the benefits and risks associated with those decisions.

From there, my job is to apply that risk to a competitive financing plan that provides that customer the capital needed to grow their business, and therefore our local economy, one step in a positive direction. Over and over, this model keeps lending decisions local, risks local, and profits local. This is the value of banking with a locally owned bank, we grow together.

Nearly two years ago when Morae and I decided to start our family, we never fully realized how truly amazing it would be to have our son. In fact, often is the case when a developing business excels beyond what was expected. We are so elated that we decided to take the risk that we wish we had done it sooner. That’s why in September, we are expecting the second edition to our family!

I believe building a business is a part of building a community and I’m proud to build my family in the community where I was raised, helping other business owners achieve their success.

– Karl Metcalf, VP Commercial Lending

Mother’s Day

“Listen to your mother and wear your coat!” Today as I type this blog, it is 76 degrees, sunny and beautiful outside. The need for that winter jacket no longer exists and mothers can now be heard exclaiming springtime reminders to their children such as, “Don’t walk on my white carpet with your muddy shoes!”

As many around the bank have noticed, I don’t always wear a coat when I should in the winter, so the warm weather suits me well. The warmer temperatures also save the breaths of my kind and caring co-workers. You see, whenever I arrive without a coat, an echo can be heard. That echo is that of multiple bankers saying, “Jared, where is your coat? It is cold outside. You’re not doing as your mother taught you!”

As I type this banking blog, you might be wondering what jackets and reminders from Mom have to do with the financial world. Let me explain, it is pretty simple.

Our mothers give us reminders as youngsters because they care about us. The maternal nature is to provide an environment that makes it possible for a child to excel throughout life.

Iowa State Bank is filled with caring employees that have a deep desire for customers and coworkers to excel throughout their lives and accomplish their goals.

If you want to discover the nurturing environment of community banking at its best, stop by and visit with us. (The muddy carpet will clean up at the bank!)

This weekend we celebrate Mother’s Day. Don’t forget to honor those special women in your life!

– Jared Lyle, SVP/Senior Loan Officer

Answers from Aaron

There’s a bit of pressure to deliver when your Marketing Department creates a blog entitled “Answers From Aaron”. The title suggests that I possess a modicum of wisdom and credibility. However, I cannot convince an eight year old boy that “murder clowns” do not actually exist, nor would they live in his closet if they did. Thus the dilemma; what value can I possibly offer to readers, understanding the scope of my expertise is limited and may not encompass their specific areas of interest (such as “murder clowns”, which I obviously know nothing about).

If there’s one thing I do know about, its community banking, and hopefully anyone who takes time to read our blog shares an interest in it. Community banking should not be confused with investment banking on Wall Street, or other types of high finance. Community banking is much less glamorous, and much more honest. If you work the Google on an internet machine you’ll find a definition of community banking that is similar to this, “a locally owned and operated financial institution which tends to focus on the needs of individuals, small businesses and farmers. Lending decisions are made by people who live in the areas they serve and who understand the needs of their customers.” That accurately describes Iowa State Bank, but there’s certainly more to add.

I am frequently asked “What makes Iowa State Bank different than other banks?” Larger financial institutions, those with tens of billions of dollars in assets, often train their officers to provide a canned answer to that question. Typically those answers speak to the bank’s strength and size. As a community banker, my response varies slightly depending on how, when and why I’m asked. In general though, I respond by talking about the quality of people I work with and how much we care. That may seem cliché but I assure you it’s sincere. My colleagues and I are far from perfect, but we care deeply about our customers and the communities we serve. That caring translates to countless hours of volunteerism (thank you to Karl and Morae Metcalf for working at the Rotary Auction last night). It means we’ll take as much time as a business owner needs to work through a difficult situation or review a new business plan. Caring is also why you’ll hear us cheering loudly at high school sporting events (as Dena and Shawn Morrissey demonstrated yesterday by vocally supporting the FHS soccer team). It’s why we’re involved in economic development, support the fine arts, help those less fortunate… I’m sure you get the point. The difference is that we care a lot, and come to work every day ready to show it. If there ever comes a time that we don’t, I’ve failed and we’ll no longer be considered a “community bank”.

In closing, if you happen to run into Rowan Kness this spring, please assure him that there’s no such thing as “murder clowns”. Chances are you have more credibility on that subject than I do.

– Aaron Kness, President/CEO