History
On July 8, 1911, a meeting was called to organize what was to be known as Somers Savings Bank. Total capital stock of the Bank was $15,000.00. By the end of 1924, total assets of the Bank reached $266,102.00. Total loans were $199,537.00 and the Board of Directors were still calling a meeting to approve each loan.
It became apparent in 1925 that troubled times were ahead. The Board ordered the Cashier to reduce certain loans. The interest rate on time certificates was lowered to 4%. In 1933, the Bank's assets had declined to $108,438.00 and in September of 1933, the Board discussed plans for reorganization. At a special meeting in August, 1934, the Board authorized membership in the Temporary Federal Deposit Insurance Fund and elected to act in accordance with the Banking Act of 1933.
On June 22, 1936, the Board of Directors approved the purchase of the Callender Savings Bank. In 1941, total assets reached $500,000.00. The Superintendent of Banking recommended the Bank lower certificate of deposit rates from 2% to 1%.
In 1951, total assets were $1,500,000.00 and steadily increased to over $30,000,000.00 in 1996.
On January 1, 1997, Somers Savings Bank acquired First State Bank of Gowrie. Approximate assets of First State Bank were $15,000,000.00. Combined assets of both banks were $48,000.000.00. On August 1, 2003, a fourth bank office was opened in a temporary facility in Manson. A move to the new bank building followed on May 10, 2004.
The Heartland Bank over the years has concentrated on providing exceptional service to its loyal customers. Through efficiency and employee dedication, the Bank has earned a reputation for providing personal service as well as state of the art products to its customers.
Our mission at Heartland Bank is focused on exceeding the expectations of our customers. Our priority is providing our customers with the most current value-added products and services in a manner characteristic of traditional values.
Heartland Bank is dedicated to providing an environment in which employees can achieve and excel to their full potential. They will be well-trained and empowered professionals provided with the incentives and resources to deliver to our customers quality products and services in a timely and accurate manner.
Heartland Bank is committed to remaining a strong, well-capitalized independent community financial services provider. This will allow us to provide leadership and resources as a community citizen in addressing both the civic and economic needs of the communities served.
Equal Housing Lender