Our bank is proud to have been serving our customers since May 1, 1915. The bank was originally organized as the Farmers Savings Bank of Garden City, Iowa. The charter was then moved to Hubbard and opened for business on October 14, 1935 as the Security State Bank in the building known as the First National Bank building.
The directors and officers were as follows: H. A. Drake, Chairman and President; Otis Wierson, Vice President; Claude E. Drake, Cashier; Carroll Drake, Director; and William Shafer, Director.
Claude Drake was paid $75 per month as cashier. The bank was formed with $18,400 of basic capital. The bank building was purchased from H. F. Boeke in December, 1935 for $4,850.
After reorganization in 1935, E. H. Klisart was named President of the bank and Mrs. F. A. Klisart was named as a Director of the bank. Mr. Klisart remained active in the bank until he passed away in January of 1944. V. H. Reid was elected President and Director at the annual meeting in July of 1944 and his wife, Mrs. Helen Reid, was elected a Director.
The Federal Deposit Insurance Corporation granted insurance coverage to the bank in September of 1952 in the amount of $10,000 for each account. As of 2008, the coverage has now been increased to $250,000.
In 1962, Don and Marilyn Heineking purchased the majority interest in the Security State Bank from Mr. and Mrs. V. H. Reid and moved to Hubbard. Don was named President of the bank and Board Chairman and Marilyn a Director, later that year.
In 1966 James O. Willmore became associated with the bank as Vice President, Cashier and Director. In that same year the bank purchased the restaurant building adjoining the bank on the west side from Alfred Mesch. The building was remodeled and added to the existing bank building in 1968. This addition doubled the amount of floor space for the bank.
Mrs. F. A. Klisart passed away in October, 1971. James O. Willmore was named Executive Vice President in 1972. In the fall of 1980 the bank installed a new time and temperature sign. In 1981, the bank had capitol accounts totaling $1,441,000.
In the year of the Hubbard Centennial (1981), employees of the bank were T. J. Heineking, Vice President; Stephen Doering; Cashier; Bernadienne Kuhfus, Assistant Cashier; Mark S. Johnston Assistant Cashier. Tellers and Bookkeepers included Ann Fredrickson, Karen Pierson, Shirley Mundell, and Luella Meister. Edna Simmerman, Bank Secretary.
In 1984, Roger L. Severson joined the staff as Vice President. James O. Willmore retired as Executive Vice President in 1987, and Roger L. Severson became his successor. In 2003, while keeping his title as Chairman of the Board of Directors, Don W. Heineking turned over the reigns of President to Mr. Severson.
As of 2008, the Board of Directors included Don W. Heineking, Chairman; Roger L. Severson, President & Cashier: Lonny D. Flack, Vice President & Zearing Branch Manager; Justin A. Widlund, Vice President; and Joy Wykle, Board Secretary. While Security State Bank now has over $51,000,000 in assets, the bank has not lost sight of its mission to help its customers in central Iowa meet their financial goals.
