Of course these are not the only reasons we think you will like banking with Cresco Bank. Please read on to find out why we think you will love your relationship with us.
Because we are not owned by investors typically interested in next quarters’ earnings, we believe the bank will prosper by treating our customers and employees fairly and with respect. We are a family and employee owned bank. Additionally, our bank, directors, officers, and employees are committed to giving back to the community by offering time, talent, and resources to many worthy causes.
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Servant Leadership
Radical Integrity
Unwavering Commitment
No Excuses Accountability
Environmental Sustainability
Outrageous Results
A Look Inside
Cresco Bank & Trust (pdf)
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We are a part of neighboring Decorah Bank & Trust Company, which was chartered by the State of Iowa in 1935. A group of Decorah citizens started the bank as Security Trust and Savings Bank during the Great Depression. The bank found itself strugglilng to survive in its first year and eventually sold to a bank liquidator name Ray Kaster. Mr. Kaster saved the bank from closing and successfully managed the bank for the next 24 years.
In 1960, Harold Grimstad purchased the bank and moved his family from Minnesota to Decorah. The bank's name was changed to Security Bank & Trust Company. Mr. Grimstad managed and grew the bank for 18 years providing needed credit to the community. Larry Grimstad, Harold's son, managed the bank for the next 24 years, continuing the tradition of community banking until 2002.
In 2000 and 2002, Ben and Joeseph Grimstad joing the organization to become the third generation of Grimstads to manage the bank. In 2007, Fortress Bank joined forces with the bank and became Cresco Bank & Trust Company, a division of Decorah Bank & Trust Company, with Donna Thomas serving as President. Mrs. Thomas and the Grimstad's are committed, with their team, to serving the financial needs of the Cresco and Decorah areas for years to come.
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You are our future. We want to hear from you if you have a suggestion. Our commitment to being accessible is evident when you walk in to Cresco Bank and are welcomed at the Hospitality Desk. You’ll also find our Presidential office is located within a few feet of the front doors. Donna Thomas welcomes your visit any time.
Our staff is passionate in providing efficient service and our culture allows for quick decision making. We are open to serve your needs 6 days a week from our Cresco Bank and Decorah Bank & Trust locations. With the largest ATM network in the area, 3 drive-thru locations, plenty of parking, Internet Banking with Free Bill Pay, mobile banking, and telephone banking, we offer the most convenient access available in the area.
Loan decisions, large and small are made in a quick fashion. Our commercial borrowers have come to enjoy no-hassle, no-wait business banking.
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Our advisors work closely with individuals to develop and integrate a financial plan. Trust services are available for people from all walks of life and unique situations.
We offer the most competitive national mortgage rates with a twist. While most banks sell the loans and loan servicing, our customers are serviced right here! This means that you will receive a faster response to any question that may come up. You can even apply online for your mortgage loan.
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Our bank is considered well capitalized by the FDIC. It is profitable and is growing capital. Strong capital is important to weather downturns in the economy. The bank is in good standing with its two primary regulators, the FDIC and the Iowa Division of Banking and is not subject to any written orders or corrective action directives.
Cresco Bank & Trust Co. practices common-sense lending. The bank’s non-current loans (loans delinquent 90+ days) as a percentage of total loans is .66% compared to the national average of over 4% as of 12-31-2010.
The bank serves a stable and diverse community – the Decorah and Cresco areas which have not experienced the same rapid increase (and subsequent decrease) in asset values as other parts of the country.
For more information about the safety of our bank, please contact Donna Thomas at the bank.
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Because every customer has different needs, we employ the best people to meet those needs. We spend considerable time and effort developing our staff so they are effective in serving you.
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We believe in sharing our success with the community areas that we call home. Community involvement is encouraged and it shows through countless hours of volunteer time with many organizations in our busy community areas.
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