Community Award

September 28, 2009 -- Lincoln Savings Bank Received Iowa Bankers Association
Community Betterment Award for Community Service

DES MOINES, IOWA – Lincoln Savings Bank received the Iowa Bankers Association (IBA) Community Betterment Award for Community Service. The awards were presented during the Association’s 123rd Annual Convention, Sept. 20-22, 2009, at the Polk County Convention Complex in Des Moines.

The IBA presented the awards to three Iowa banks that have demonstrated a high level of commitment to their local community through community-based projects entered in one of three categories:  financial education, community service or economic development.

Lincoln Savings Bank (LSB), is based in Reinbeck and has 14 banking locations in Iowa.  LSB earned top honors in the community service category for the LSB Foundation Disaster Relief Project which raised over $1 million dollars to give back to individuals, businesses and community organizations that were affected by the tornado and flooding that impacted the state during 2008. In addition, the bank made a total of 35 loans totaling nearly $740,000 through LSB’s disaster relief loan program that provided loans to individuals and businesses at a discounted rate.

“Iowa banks have a history of meeting the needs of their communities, and Lincoln Savings Bank’s efforts following the weather-related disasters of 2008 are evidence of that commitment to community service,” said IBA President and CEO John Sorensen.  “By raising over $1 million dollars to provide grants for those in need and offering low-cost loans to start the rebuilding process, LSB supported individuals, businesses and communities at a time when they needed it most.”

The LSB Foundation Disaster Relief Project began as a response to reach out to victims of the Parkersburg tornado.  With a branch location in the neighboring community of Aplington, many LSB clients and a few employees were impacted by the tornado. Two weeks later, major flooding impacted a number of local communities LSB serves.  The bank felt it was important to help the community beyond just offering banking services.

Through LSB’s private foundation, the LSB Foundation, the bank announced it would be collecting funds to help aid in the recovery.  LSB contacted local media and partners to spread the word.  As a result, the LSB Foundation collected over $1 million for flood and tornado relief. The Foundation then developed a one-time disaster grant application which was made available through LSB branches. Nearly 600 individuals received a one-time disaster grant, while other major designated donation recipients included local schools, parks, community areas and local organizations.

The collection and distribution of funds – along with external communication and taking inquiries – was a large undertaking for LSB employees who dedicated more than 1,000 hours to help their local communities recover from the disasters. Employees also donated their time after work hours to volunteer during the recovery efforts.

“We believed that if we could help our communities recover after the tornado and flooding, they would be that much closer to getting back to their normal day-to-day business,” said Crystal Buzza, Vice President of marketing for Lincoln Savings Bank.

Thanks to the efforts of LSB, its employees and the LSB Foundation, many individuals and businesses impacted by the disasters have had the support and financial resources needed to begin the rebuilding process.

About the Iowa Bankers Association

In its 122-year history, the Iowa Bankers Association has dedicated itself to serving Iowa banks and their employees. At its formation, the primary purpose of the organization was to provide representation of Iowa banks before the legislature and to provide an organization where individual bankers could gather and exchange ideas on the business of banking. Never straying from the original purpose, the IBA continues to look for ways to serve bankers through learning opportunities, legislative and regulatory representation, industry communications, forums for peer communication, and enhancement of the image of banking.