5/31/2023 0 Comments Matthew banks rolling hills![]() Hills Bank could then better serve its customers in the Iowa City area. This annexation provided an opportunity for the first Hills Bank location to be opened outside of Hills, in the city of Iowa City. In 1979, the city of Hills annexed their small town to Iowa City by way of the old Rock Island Railroad track, which connected Hills to Iowa City. Hills Bank and Trust Company Expansion įor many years, Iowa banking law allowed banks to establish a bank branch only in towns where the boundaries were contiguous. During that time, the town of Hills boasted a population of 211 and the total resources of the bank were $3,132,200 -“the largest per capita resources of any bank in an Iowa community” as stated in an Iowa City Press-Citizen article, June 1952. The bank expanded in 1952, when a new one-story building was built east of the existing building. At that time, the total capital of the bank was $30,000. The name change more accurately reflected the services that the bank offered. In 1934, Hills Savings Bank reorganized under the new name of Hills Bank and Trust Company. This was a defining time and turning point for the small Hills Savings Bank in Hills, whose doors remained open through the Great Depression.Įarly Years: Hills Bank and Trust Company Among those to close were all five banks in Iowa City, and seven of nine banks in Cedar Rapids. Īpproximately 25 years after the bank’s doors opened, the Great Depression struck causing 600 banks in Iowa to fail. Albert Droll was hired as a teller in 1921 and officially became president in 1965. Later that summer, the Hills Savings Bank opened for business with only a handful of employees. A board of directors was elected and plans were made to construct a building. Subscriptions for stock in the bank were purchased with each share valued at $100. ![]() On February 15, 1904, Hills Savings Bank was founded by 19 local citizens with $10,000 among them and the dream of organizing a local savings bank. The bank was founded in 1904, and is a subsidiary of Hills Bancorporation, a holding company established on December 12, 1982. While headquartered in a town of fewer than 900 people, Hills Bank is one of the largest independent banks in Iowa, with over 120,000 customers. Hills Bank is a bank based in Hills, Iowa, U.S.A., with more than 500 employees across 19 offices in three eastern Iowa counties and total assets of $3.9 billion. JSTOR ( September 2017) ( Learn how and when to remove this template message).Please improve this article by adding secondary or tertiary sources.įind sources: "Hills Bank and Trust Company" – news This article relies excessively on references to primary sources.
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