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Local Bank Continues to See Growth

Posted: Wednesday, March 9th, 2011 at 6:26 am
Author: KNIA/KRLS News-Samantha Smith

A recent federal report shows Iowa banks did better than others in the nation last year but how did things go for our local banks? David Hoke of Iowa State Savings Bank tells KNIA/KRLS news while many other areas reported difficulties recently due to the economic crisis, their core lending procedures remained the same which helped avoid problems stemmed from products such as sub-prime mortgages. Hoke says profitability remained very strong in 2010 and the bank continues to see growth in both deposits and loans for the first quarter of 2011. As the year continues he says the outlook for continued growth and stability is very positive.