Happy 30th Anniversary, Allison Branch
From State Bank of Allison to Lincoln Savings Bank
Lincoln Savings Bank has enjoyed steady, sustained growth over the past 30 years, with 17 offices throughout central Iowa as of early 2017. In early 1987, there were 2 Lincoln Savings Bank locations in Reinbeck and Lincoln, Iowa. On February 5, 1987, Lincoln Savings Bank purchased State Bank of Allison, marking our 3rd office.
The Allison office remains a cornerstone of what true community banking is all about. Our staff in Allison still includes 3 of the original employees that were with us when we opened the doors 30 years ago! We hope you enjoy reflections of the transition from state Bank of Allison to Lincoln Savings Bank from Dana Uhlenhopp, Carol Rewerts and Zelly Zurcher.
State Bank of Allison was closed by the FDIC on Feb. 5, 1987 at 3:00 PM due to high loan losses and poor management. At the time, State Bank of Allison was owned by Hawkeye Bancorporation. Lincoln Savings Bank purchased the bank late that afternoon and opened the following morning as Lincoln Savings Bank (LSB). Steve Tscherter, John Stull, Carol Peterson, Dean Snow and Tom Bickett were the LSB employees who came to the bank that afternoon. Approximately 40 employees from the FDIC also showed up to work on the conversion, with many of them here for 2-3 weeks. A public meeting was held at the Allison gymnasium the following week where Steve Tscherter was able to talk on behalf of LSB.
Fondest memory: All of the LSB people were great at the time, but I fondly remember Steve Tscherter (retired Lincoln Savings Bank President/CEO) and Carol Peterson (retired Lincoln Savings Bank Senior Vice President). They knew it was a tough time for the employees of the bank and they did their best to help make us feel a part of the LSB team. Allison was the 3rd LSB location. I became the Office Manager a week or 2 later, and started going to Reinbeck each week for Management Meetings. We’ve obviously had many changes at this location since 1987, but it has been great to be able to work with Carol Rewerts and Kelly Zurcher for these 30 years. Both have been tremendous employees for the bank and have been a part of the success from the Allison Office.
After 30 years, I can still say I’m proud to be a part of the LSB team. The best part is I’ve been able to work in various roles and with great people, great leaders and a great Board of Directors.
I had only been with the State Bank of Allison a couple of years and had just bought an acreage with my husband when State Bank of Allison was closed by the FDIC. The fear of not knowing what was going to happen was overwhelming. In 24 hours we worked for the State Bank of Allison, the FDIC and Lincoln Savings Bank.
On February 5th, we were instructed not to answer phones and given the news of what was happening that day. At 3 I looked out the front door to see a highway patrolman, and then the FDIC arrived and with a fast and furious pace. Everything was taped shut and trucks pulled up with their equipment.
Everyone was kind and helped us make the transition. We all stayed in our positions and we opened the next day with Lincoln Savings Bank as our new employer. Over time some of the employees have retired and have moved on to other jobs, but here I stand after 30 years with Dana and Kelly. After a couple years, Steve Heeren joined us and we are all still here today. It was quite a ride!!!
?Wow, 30 years seems like yesterday. One minute is was business as usual and then it was like a mob was surrounding us. I am not sure how many FDIC employees were here, but it seemed like a tribe of about 50. I can still remember where I was standing and my feelings when they told us that our office had failed. The bright side was that we were now going to be Lincoln Savings Bank (LSB) employees.
Steve Tscherter and Carol Petersen brought us together in a room and explained that we now had a new banking family. There were a lot of changes and many trips to Reinbeck to learn the new procedures, transport work and just generally help out.
I have witnessed several changes and made many friends throughout the years. We know that we can count on our fellow employees. Dana Uhlenhopp and Carol Rewerts were along for the ride. They have been great mentors and friends during these past 30 years. I am looking forward to more years (and probably more changes) as a member of TEAM LSB.
We are excited to be celebrating 30 years of serving the community of Allison! We look forward to the next 30 years and the many changes we will see.
Lincoln Savings Bank, Member FDIC