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Hometown Community Bank Website

Our History

The State Savings Bank was granted a charter from the State Banking Department on the 24th day of December, 1914, and began operating on January 1, 1915 in Sharpsburg, Iowa. In 1931, a banking office was opened in Gravity. In 1935, an additional office was opened in Clearfield. The original bank charter was moved to Bedford in 1945.

In 1977, controlling interest in the bank was sold to Bedford Bancorp, owned by Tad and Jill Hammond of Nebraska City, NE. In 1998, the bank charter was moved to Creston, Iowa. In 2011, Valley Bank & Trust in Cherokee, Iowa was merged into State Savings Bank.

newspaper clippings mentioning State Savings Bank dating 1917 and 1982

State Savings Bank began operations in Iowa on January 1, 1915, and ended the year 1915 with roughly $33,000 in deposits. Today, the bank has grown to over $100 million in assets and operates five convenient locations for its customers to do their business in Bedford, Clearfield, Creston, Cherokee and Marcus. Over the years of operation, the State Savings Bank has been a very progressive and community-minded business. Area projects have been backed with personal and financial support, and the betterment of any area project has been our goal. State Savings Bank has been, and continues to be, vitally interested in the betterment of Iowa and its future!