Independent Banker - July 2017 - 28

AGRICULTURAL
Aiming high in Iowa
F
or Iowa State Bank in Orange City, Iowa, lower commodity prices, a
downturn in the cattle market and higher land ownership costs have
resulted in occasional negative cash fl ows during the past two years. But
the $581 million-asset bank's long-term approach, based on building rock-solid
client relationships, is helping both it and its customers ride out the storm.
" Our customers have a fantastic can-do spirit combined with an unmatched
work ethic and collaboration within all phases of agriculture, " says president
and CEO Leroy Van Kekerix. " Even in the downtrend in our recent ag markets,
we continue to have a number of strong producers, and this also creates opportunities
for us. "
Iowa State Bank's plan for growth is rooted in a steadfast belief in the industry
and in Iowa's rich soil, which remains some of the very best in the world.
" We will continue to be out in our markets looking for customers who are survivors
and are willing to take the risk with us for the future, " Van Kekerix says.
" We believe in the future of agriculture for the long haul. "
Independent Banker sat down with leaders of three other top-performing
agricultural lenders in Iowa-the state with the most banks in our top ag lending
tables-to discuss their formulas for success and their plans for future
growth. Here's what they said.
IB:
What makes your community
bank a strong
and growing ag lender?
Rod A. Rowland, Landmands
Bank: We have a staff that has some
longevity and ties to our area, which
has allowed us to build some strong
personal relationships and become a
trusted source. Our customers want
to do business with people they know
and trust, and they refer others.
Owen Bolte, United Bank of
Iowa: Being located in the heart of
the Corn Belt with a strong livestock
IB:
-Andrea Lahouze
presence has been a primary driver
in our success. We are fortunate
enough to be surrounded by some of
the best farm ground in the world,
and in many cases, those farms
have been operated by the same
families for three or four generations.
We have employees dedicated to
knowing, understanding and living
agriculture, which has allowed us to
develop long-lasting relationships
with our customers. Our employees,
management team and board of
directors are all dedicated to the
communities we serve, as well as
production agriculture, which has
At a glance: Four of Iowa's best ag lenders
Iowa State Bank
Based: Orange City, Iowa
Agricultural loans to
total assets: 41.38%
Assets: $581 million
Rank in category: Fifth
President and CEO:
Leroy Van Kekerix
Founded: 1879
Landmands Bank
Based: Audubon, Iowa
Agricultural loans to
total assets: 72.14%
Assets: $66 million
Rank in category: Sixth
President and CEO:
Rod A. Rowland
Founded: 1909
28 ICBA IndependentBanker July 2017
Peoples Savings Bank
Based: Elma, Iowa
Agricultural loans to
total assets: 67.79%
Assets: $69 million
Rank in category: 11th
President and CEO:
Bruce Weigel
Founded: 1927
United Bank of Iowa
Based: Ida Grove, Iowa
Agricultural loans to
total assets: 57.12%
Assets: $1.4 billion
Rank in category: First
President and CEO:
Owen Bolte
Founded: 1932
allowed us to maintain a focus on
ag lending.
Bruce Weigel, Peoples Savings
Bank: We are located in a community
of 550 people in rural northeast
Iowa. Our customer base is primarily
agricultural, as we have 74 percent
of our loans in agriculture. We know
agriculture and we promote ourselves
as an " ag bank. " Our farm customers
have had a good and profi table run
the past 10 years.
How would you describe
Iowa's ag lending
landscape right now?
Rowland: It's currently going
through a down cycle. The livestock
side is starting to show some opportunity
for gains, but the grain side looks
like the compressed margins of the
recent past will continue. Control of
your real estate input costs is the key.
Bolte: Overall, the long-term outlook
remains bright, as demand for the
highest-quality ag products produced
in the world remains high. Tightening
profi t margins for producers over
the last few years have created a few
more challenges in agriculture than
we had three or four years ago. However,
effi cient producers have been
able to adjust their cost structure to
generate a modest profi t. In general,

Independent Banker - July 2017

Table of Contents for the Digital Edition of Independent Banker - July 2017

Table of Contents
Independent Banker - July 2017 - Intro
Independent Banker - July 2017 - Cover1
Independent Banker - July 2017 - Cover2
Independent Banker - July 2017 - Table of Contents
Independent Banker - July 2017 - 2
Independent Banker - July 2017 - 3
Independent Banker - July 2017 - 4
Independent Banker - July 2017 - 5
Independent Banker - July 2017 - 6
Independent Banker - July 2017 - 7
Independent Banker - July 2017 - 8
Independent Banker - July 2017 - 9
Independent Banker - July 2017 - 10
Independent Banker - July 2017 - 11
Independent Banker - July 2017 - 12
Independent Banker - July 2017 - 13
Independent Banker - July 2017 - 14
Independent Banker - July 2017 - 15
Independent Banker - July 2017 - 16
Independent Banker - July 2017 - 17
Independent Banker - July 2017 - 18
Independent Banker - July 2017 - 19
Independent Banker - July 2017 - 20
Independent Banker - July 2017 - 21
Independent Banker - July 2017 - 22
Independent Banker - July 2017 - 23
Independent Banker - July 2017 - 24
Independent Banker - July 2017 - 25
Independent Banker - July 2017 - 26
Independent Banker - July 2017 - 27
Independent Banker - July 2017 - 28
Independent Banker - July 2017 - 29
Independent Banker - July 2017 - 30
Independent Banker - July 2017 - 31
Independent Banker - July 2017 - 32
Independent Banker - July 2017 - 33
Independent Banker - July 2017 - 34
Independent Banker - July 2017 - 35
Independent Banker - July 2017 - 36
Independent Banker - July 2017 - 37
Independent Banker - July 2017 - 38
Independent Banker - July 2017 - 39
Independent Banker - July 2017 - 40
Independent Banker - July 2017 - 41
Independent Banker - July 2017 - 42
Independent Banker - July 2017 - 43
Independent Banker - July 2017 - 44
Independent Banker - July 2017 - 45
Independent Banker - July 2017 - 46
Independent Banker - July 2017 - 47
Independent Banker - July 2017 - 48
Independent Banker - July 2017 - 49
Independent Banker - July 2017 - 50
Independent Banker - July 2017 - 51
Independent Banker - July 2017 - 52
Independent Banker - July 2017 - 53
Independent Banker - July 2017 - 54
Independent Banker - July 2017 - 55
Independent Banker - July 2017 - 56
Independent Banker - July 2017 - 57
Independent Banker - July 2017 - 58
Independent Banker - July 2017 - 59
Independent Banker - July 2017 - 60
Independent Banker - July 2017 - 61
Independent Banker - July 2017 - 62
Independent Banker - July 2017 - 63
Independent Banker - July 2017 - 64
Independent Banker - July 2017 - 65
Independent Banker - July 2017 - 66
Independent Banker - July 2017 - 67
Independent Banker - July 2017 - 68
Independent Banker - July 2017 - 69
Independent Banker - July 2017 - 70
Independent Banker - July 2017 - 71
Independent Banker - July 2017 - 72
Independent Banker - July 2017 - Cover3
Independent Banker - July 2017 - Cover4
https://www.nxtbook.com/mspc/independentbanker/october2024
https://www.nxtbook.com/mspc/independentbanker/september2024
https://www.nxtbook.com/mspc/independentbanker/august2024
https://www.nxtbook.com/mspc/independentbanker/july2024
https://www.nxtbook.com/mspc/independentbanker/june2024
https://www.nxtbook.com/mspc/independentbanker/may2024
https://www.nxtbook.com/mspc/independentbanker/april2024
https://www.nxtbook.com/mspc/independentbanker/march2024
https://www.nxtbook.com/mspc/independentbanker/february2024
https://www.nxtbook.com/mspc/independentbanker/january2024
https://www.nxtbook.com/mspc/independentbanker/december2023
https://www.nxtbook.com/mspc/independentbanker/november2023
https://www.nxtbook.com/mspc/independentbanker/october2023
https://www.nxtbook.com/mspc/independentbanker/september2023
https://www.nxtbook.com/mspc/independentbanker/august2023
https://www.nxtbook.com/mspc/independentbanker/july2023
https://www.nxtbook.com/mspc/independentbanker/june2023
https://www.nxtbook.com/mspc/independentbanker/may2023
https://www.nxtbook.com/mspc/independentbanker/april2023
https://www.nxtbook.com/mspc/independentbanker/march2023
https://www.nxtbook.com/mspc/independentbanker/february2023
https://www.nxtbook.com/mspc/independentbanker/january2023
https://www.nxtbook.com/mspc/independentbanker/december2022
https://www.nxtbook.com/mspc/independentbanker/november2022
https://www.nxtbook.com/mspc/independentbanker/october2022
https://www.nxtbook.com/mspc/independentbanker/september2022
https://www.nxtbook.com/mspc/independentbanker/august2022
https://www.nxtbook.com/mspc/independentbanker/july2022
https://www.nxtbook.com/mspc/independentbanker/june2022
https://www.nxtbook.com/mspc/independentbanker/may2022
https://www.nxtbook.com/mspc/independentbanker/april2022
https://www.nxtbook.com/mspc/independentbanker/march2022
https://www.nxtbook.com/mspc/independentbanker/february2022
https://www.nxtbook.com/mspc/independentbanker/january2022
https://www.nxtbook.com/mspc/independentbanker/december2021
https://www.nxtbook.com/mspc/independentbanker/november2021
https://www.nxtbook.com/mspc/independentbanker/october2021
https://www.nxtbook.com/mspc/independentbanker/september2021
https://www.nxtbook.com/mspc/independentbanker/august2021
https://www.nxtbook.com/mspc/independentbanker/july2021
https://www.nxtbook.com/mspc/independentbanker/june2021
https://www.nxtbook.com/mspc/independentbanker/may2021
https://www.nxtbook.com/mspc/independentbanker/april2021
https://www.nxtbook.com/mspc/independentbanker/march2021
https://www.nxtbook.com/mspc/independentbanker/february2021
https://www.nxtbook.com/mspc/independentbanker/january2021
https://www.nxtbook.com/mspc/independentbanker/december2020
https://www.nxtbook.com/mspc/independentbanker/november2020
https://www.nxtbook.com/mspc/independentbanker/october2020
https://www.nxtbook.com/mspc/independentbanker/september2020
https://www.nxtbook.com/mspc/independentbanker/august2020
https://www.nxtbook.com/mspc/independentbanker/july2020
https://www.nxtbook.com/mspc/independentbanker/june2020
https://www.nxtbook.com/mspc/independentbanker/may2020
https://www.nxtbook.com/mspc/independentbanker/april2020
https://www.nxtbook.com/mspc/independentbanker/march2020
https://www.nxtbook.com/mspc/independentbanker/february2020
https://www.nxtbook.com/mspc/independentbanker/january2020
https://www.nxtbook.com/mspc/independentbanker/december2019
https://www.nxtbook.com/mspc/independentbanker/november2019
https://www.nxtbook.com/mspc/independentbanker/october2019
https://www.nxtbook.com/mspc/independentbanker/september2019
https://www.nxtbook.com/mspc/independentbanker/august2019
https://www.nxtbook.com/mspc/independentbanker/july2019
https://www.nxtbook.com/mspc/independentbanker/june2019
https://www.nxtbook.com/mspc/independentbanker/may2019
https://www.nxtbook.com/mspc/independentbanker/april2019
https://www.nxtbook.com/mspc/independentbanker/march2019
https://www.nxtbook.com/mspc/independentbanker/february2019
https://www.nxtbook.com/mspc/independentbanker/january2019
https://www.nxtbook.com/mspc/independentbanker/december2018
https://www.nxtbook.com/mspc/independentbanker/november2018
https://www.nxtbook.com/mspc/independentbanker/october2018
https://www.nxtbook.com/mspc/independentbanker/september2018
https://www.nxtbook.com/mspc/independentbanker/august2018
https://www.nxtbook.com/mspc/independentbanker/july2018
https://www.nxtbook.com/mspc/independentbanker/june2018
https://www.nxtbook.com/mspc/independentbanker/may2018
https://www.nxtbook.com/mspc/independentbanker/april2018
https://www.nxtbook.com/mspc/independentbanker/march2018
https://www.nxtbook.com/mspc/independentbanker/february2018
https://www.nxtbook.com/mspc/independentbanker/january2018
https://www.nxtbook.com/mspc/independentbanker/december2017
https://www.nxtbook.com/mspc/independentbanker/november2017
https://www.nxtbook.com/mspc/independentbanker/october2017
https://www.nxtbook.com/mspc/independentbanker/september2017
https://www.nxtbook.com/mspc/independentbanker/august2017
https://www.nxtbook.com/mspc/independentbanker/july2017
https://www.nxtbook.com/mspc/independentbanker/june2017
https://www.nxtbook.com/mspc/independentbanker/may2017
https://www.nxtbook.com/mspc/independentbanker/april2017
https://www.nxtbookmedia.com