2018 Year in Review

2018 Year in Review

posted Erik Skovgard 12/21/2018 in CEO Messages

We want to start with a sincere thank you for being part of the LSB family and trusting us as your financial partner. Thanks to you, 2018 was an outstanding year.  

We invite you to look back at the highlights from the past 12 months in LSB history and join us as we continue to break the banking mold in 2019. 

Notable Moments from 2018 

Remembering Steve Tscherter. 
We continue to celebrate and honor former LSB President/CEO Steve Tscherter by providing the best service to our customers and communities. Steve passed earlier this year, following a short battle with cancer.  He was appointed President/CEO of Lincoln Savings Bank in 1993 and remained in that position until his retirement on January 1, 2015. Steve continued to serve on the Board of Directors for Lincoln Savings Bank through January of 2018. The legacy Steve left is immeasurable. 

Launch of Ledger: FREE Personal Financial Management Tool. 
In 2018, we launched a new personal financial management tool within our online and mobile banking platform. Ledger allows you to link all your financial accounts, including credit cards, loans, checking, and savings accounts from other financial institutions right to your LSB online/mobile banking account dashboard.  By providing you with the ability to view all your accounts in one place, you have a holistic view of your money and can make better informed decisions about your finances. Over 20% of our customers are using Ledger to take control of their finances. 

Commitment to Agriculture. 
Lincoln Savings Bank remains committed to our Agricultural roots. We continue to be one of the top Ag lending banks in Iowa and work very closely with our Ag customers to provide financial guidance during the tough farm economy Iowa has been experiencing for several years.

Supporter of Small Businesses. 
In 2018, LSB closed several Small Business Administration (SBA) loans to customers throughout Iowa and the Midwest. LSB has also expanded our financing options to include leasing, offering an array of leasing products to businesses and Ag producers. Leasing has been a great addition to our financing options because in some cases, leasing may be more beneficial than a loan. We continually strive to assist startups and businesses that are looking to expand with a wide array of financing options. 

Top 10 Mortgage Originator. 
In 2018, we helped nearly 1,000 individuals and families finance their homes with a mortgage loan. We made the list of Top 10 Originators in Iowa for Iowa Finance Authority (IFA) Loans and Top 10 Originator of USDA Rural Development Loans. We are continuously improving our products and services to deliver the best possible experience to our home loan customers.

Fostering Superior Talent.
At Lincoln Savings Bank, we understand that high producing individuals make effective teams, and effective teams build a strong organization. We continue to attract and invest in the best professionals who share our core values. As we close 2018, we are approaching 300 employees/employee-owners. 

Building Strong Communities. 
The LSB Foundation is just one of the many ways Lincoln Savings Bank demonstrates a commitment to our core value of building strong communities. In 2018, we donated $96,500 to various organizations, individuals and community endeavors through the LSB Foundation. 

Stock Offering to Support Growth. 
Lincoln Bancorp, the holding company for Lincoln Savings Bank, completed a private placement of $30 million in common stock. Lincoln Bancorp plans to use the capital to support organic growth, expand LSB’s footprint, and to pursue its long-term strategic and financial objectives. 

Looking forward to 2019 

New Branch Location. 
On October 11, we broke ground on a new location at 1922 Ingersoll Ave in Des Moines. This branch will be our 17th location and is expected to be open summer of 2019. We look forward to serving even more customers in the Des Moines region through this new location.

New Debit Cards. 
We always strive to offer our customers the best banking experience possible. In order to better serve you, we will be upgrading all current Visa debit cards in spring 2019. This upgrade provides you with a sleek new card design and new card benefits including EMV chip with contactless payment technology, digital wallet capabilities and more!  We’re very excited for the card enhancements that will bring enhanced transaction security and more payment options.

Customer Experience Focus. 
Providing superior customer service has always been important to us. In 2019, we plan to increase the ways in which our customers can interact with us. Look for extended support hours and options including web chat, text support and more. 

All of us at LSB are grateful for each and every customer.  We are truly vested in LSB as employee-owners and are excited for the many opportunities that lie ahead.  Thank you for joining us as we celebrate 2018 and look forward to a prosperous and successful 2019 as your financial partner.

Lincoln Savings Bank, Member FDIC

Want the latest and greatest from our blog straight to your inbox?
Blog and News
We use cookies to improve your online experience. If you continue on our site, you agree to our cookie policy. Learn more about how we use cookies by reviewing our privacy policy. I agree