Central Bank celebrates anniversary with donations
In recognition of Central Bank's 125-year heritage as the oldest financial institution in Storm Lake - and Northwest Iowa - the bank has donated a total of $125,000 to a pair of local organizations.
Central Bank has committed $100,000 to the Science Center campaign in support of Buena Vista University. The bank has also pledged $25,000 to Buena Vista Regional Medical Center.
Tim Brown, president of Central Bank, has served on the Buena Vista University Board of Trustees since 1994, where he is a member of the marketing and finance committees.
"We are happy to continue the partnership between Central Bank and Buena Vista University," said Tim Brown. "Investing in a strong future for BV is an investment in our community and Northwest Iowa."
John Brown, executive vice president, earned a degree in finance and banking from Buena Vista. John Brown also played football and was an All-American wrestler at BV, where he was named to the BVU Athletic Hall of Fame.
"Central Bank is making this gift to the Science Center because we realize the importance of having a modern facility to go along with a strong science program at BV," said John Brown.
The bank has also made a significant donation to Buena Vista Regional Medical Center.
"The medical center's building project will have a tremendous impact on people's lives in this area," said Tim Brown.
Central Bank's history dates back to 1877, when James F. Toy chartered it as Commercial Trust & Savings Bank. In 1937, Albert Tymeson purchased the bank and it stayed in the Tymeson family until it was purchased by the Browns in 1990.
The bank's name was changed to Central Bank last December.
Under the Browns' leadership, the bank has grown to $185 million in total assets and employs 90 people in six locations. In addition to Storm Lake, Central Bank has offices in Spirit Lake, Cherokee, Sioux City, Washta and Quimby.
"We are proud to be the oldest bank in Northwest Iowa as we celebrate our 125th anniversary this year," said Tim Brown. "But we are more excited about what the future holds for the people of this area.
"Buena Vista University and the Buena Vista Regional Medical Center are a couple of outstanding organizations that mean a great deal to the people of Northwest Iowa. We felt these two donations gave us the perfect opportunity to celebrate our anniversary, while helping to strengthen our community."