IOWA STATE BANK'S PANDEMIC PREPAREDNESS AND RESPONSE

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MARCH 17, 2020

IOWA STATE BANK’S PANDEMIC PREPAREDNESS AND RESPONSE

The COVID-19 pandemic has created an unprecedented situation with global implications. Iowa State Bank’s primary concern is the safety and health of our customers and employees. Following Governor Reynolds’ proclamation Tuesday, many local businesses have been shut down, or at minimum are unable to operate normally. Iowa State Bank’s team of dedicated professionals feel strongly that community banks are pillars of strength in the communities they serve. The bank will therefore remain open for business in the drive-through and via phone or email. Our customers’ money will be safeguarded and accessible.

In order to protect the health of bank staff and customers, access to Iowa State Bank’s lobby areas at both locations will be restricted until further notice. We encourage customers to utilize our state-of-the-art online and mobile banking services or one of our four ATMs. The drive-through lanes will be open and all of our full time staff members will be available (by email, phone, or appointment) to assist individual customers. By remaining open in a reduced capacity we can serve customers who may be enduring personal hardships, or have no choice but to do business in person. Our plan is to continue serving our community without interruption. 

Since 2007, when the “avian flu” spread throughout the globe, federal banking regulators have directed financial institutions to include pandemic planning as part of their overall business continuity plans. Specifically, our plan provides for a preventive program; a documented strategy scaled to the stages of a pandemic outbreak; a comprehensive framework to ensure the continuance of critical operations; a testing program; and an oversight program to ensure the plan is reviewed and updated. Iowa State Bank is prepared for a potentially prolonged period of stress. Perhaps most importantly, we have a surplus of capital and our balance sheet is stronger than it has ever been. We are as prepared to handle adversity as we can be.

We are a resilient, strong, and determined community. Our organization’s actions will reflect that throughout this challenging time. Together we will get through this.