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United Bank of Iowa to open this fall in SL

Thursday, June 26, 2008

A bank that has been ranked as the number one ag bank in the State of Iowa for four consecutive years, based on their ag loan volume will be opening a branch this fall on Lake Avenue near HyVee.

"We definitely have a commit ment to agriculture," says Marcia Cates, Director of Marketing and Sales at United Bank of Iowa. However, Cates said the bank is a full service bank and provides full service loans and they have a full menu of deposit products including savings and checking accounts.

According to Cates, if everything goes as planned the new bank is hoping to open its doors on Sept ember 1.

Owen C. Bolte, President and COO of United Bank announced that Jake Schable, Storm Lake High School graduate, would serve as the Assistant Vice President and Office Manager of the Storm Lake location.

"It is very exciting to be managing the newest location of a successful and progressive bank like United Bank of Iowa," says Schable. "I look forward to growing with United Bank as we anticipate moving into our new location on Lake Avenue on Sept. 1. It is also great to be back in Storm Lake where I was born and raised."

After graduating from SL, he attended Southwest Minnesota State University, earning a BS degree in Ag Business with an emphasis in management and finance and a minor in agronomy. Schable joined United Bank of Iowa in June 2007, as an Assistant Loan Officer.

Former President Kenneth VanKeKerix who was President of United Bank for about 20 years continues to serve as Chairman of the Board of Directors and is the CEO.

United Bank is headquartered in Ida Grove and has assets of $744 million and is part of a holding company, Ida Grove Bancshares, Inc. with assets over $1 billion.

"We look forward to serving the financial needs of the Storm Lake community," says Bolte.

Currently the bank also has offices in 16 towns in Northwest and West Central Iowa.