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Banking Local is as Important as Ever

At Decorah Bank and Trust, we make loans to you and your neighbors, to farmers and to local business owners. We hold deposits from within our communities and invest back into them. We are here for you, and your deposits are safe with us.

In light of the news around Silicon Valley Bank and consequent customer concerns, community banks across this country are reminding consumers that they are in the best position to support customers and small businesses. #BankLocally is as important as ever. The ICBA issued the points below in response to the closing of Silicon Valley Bank.

2022 Message from Leadership

Posted in: Community News

2022 Message from Leadership

2022 marks the third year of the global pandemic. We all like certainty and wish for more “normal” times. COVID has tested our grit and resiliency. It has affected everyone differently, influencing our work, travel and general enjoyment of many things. We must control what we can, continuing to improve ourselves and looking for ways to help others.

The economy is currently in a weaken state, but there is a surplus of cash looking for a home due to the trillions of dollars in government stimulus. This excess of money drives interest rates down and asset prices (inflation) up. The supply chain issues and labor shortages make this situation even more challenging. Fortunately, closer to home the Ag economy has been strong where farmers can make a profit.

Decorah & Cresco Bank assets now exceed $625 million. Your bank experienced $47 million of deposit growth last year, largely due to the stimulus. Off-balance sheet, we manage another $475 million in Wealth Management assets and $300 million in Mortgage servicing. Altogether, we manage around $1.4 billion in financial services. This makes us a nice-sized community bank, allowing us to be sustainable and independent.

Decorah & Cresco Bank is a carbon neutral bank with a mission of serving our local community.  Our experience with solar inspired us to start our “virtual” greenpenny bank, which is growing nicely, financing hundreds of solar projects large and small throughout the Midwest.

When was the last time you thought about your goals and dreams? Whether that dream is saving for college, financial freedom, a vacation, a new car, building a home, starting a business, transitioning a family farm, or planning for retirement, we are here to help. Our purpose is to help people achieve their financial dreams.

The cell phone and laptop have become our busiest branches for doing banking, but know we always welcome an in-person visit or a conversation via phone or email.

We are grateful for your support, and look forward to continue building upon our relationships in the upcoming year. Cheers to a year of growth and opportunity!

Ben Grimstad, Donna Thomas, and Justin Gullekson