Serving Fairfield for More Than 80 Years
Iowa State Bank & Trust Company opened its doors for the first time on May 19, 1934 after a merger between Iowa State Savings Bank and the Iowa Loan and Trust Company was agreed to create a strong unified bank during the Great Depression. That same year, the bank was accepted into the Federal Reserve System.
In November of 1939, Ralph Eastburn became the first member of the Eastburn family to lead the bank after purchasing controlling interest. He served as President, Chairman of the Board and Principal Shareholder until his untimely death in January of 1966. The legacy that Ralph Eastburn began paved the way for his family to continue to help the bank grow, as his son Charles Eastburn, who had worked for the bank for more than a decade, was unanimously voted the next president of Iowa State Bank & Trust Company after his father’s death.
Charles Eastburn retired from his active role in the bank in 1991, turning leadership over to his son, David Eastburn, to begin the third generation of Eastburn leadership at the bank. During Charles Eastburn’s tenure, the bank grew from a $5.3 million bank to a $64.3 million organization.
Over the last 80 years, there has been a lot of growth at Iowa State Bank & Trust Company. A new main bank was constructed and opened in 1996 and other locations also grew in size. Through it all, we’ve remained dedicated to the Fairfield community, leading the charge for projects like the construction of the Fairfield Arts & Convention Center, helping community businesses get their start and expand with responsible lending and helping the community upgrade their athletic facilities through bank donations.
Today, Iowa State Bank & Trust Company has grown to an institution with more than $120 million in assets. The bank continue to look to the future with installation of full-solar panel arrays at branch offices and new ATMs that provide full-service withdrawals, deposits and sales of stamps for the convenience of the community.