President's Message
On February 1, 2009, First National Bank of West Union will commence celebrating 75 years of service to our customers and community.
Currently, we are experiencing a time of economic distress which rivals the Great Depression. In part, this was brought about by mortgages that originated through unchecked mortgage brokers, packaged by overleveraged Wall Street investment banks and approved by rating agencies that were blind to credit risks. First National Bank of West Union as a community bank remains an anomaly. The bank will not stray from the prudent banking principles established 75 years ago.
As a community bank, our deposits are loaned back out into the community to assist in financing our farm customers, commercial businesses, residential and consumer loan customers. A healthy community bank equates to a healthy robust community.
The hallmark of Iowa banking has always been local commitment and a strong personal relationship with our customers. In 2008 Iowa banks donated nearly $40 million to charities, economic development and community service organizations. In addition, Iowa bankers volunteered more than $1.6 million hours of their time to those same organizations. You won't see these statistics in the headline of major papers or on the nightly news, but it is what sets the community banks apart.
Obviously, the FNB Board of Directors, officers and staff are extremely proud that we continue to be locally owned, locally controlled, independent community bank and plan on remaining one for the next 75 years.
If you are a customer, thank you for your past, present and future patronage; if you are not a customer, please come in, as I am sure our staff will gain your confidence with their knowledge, competent and cohesive services.
By working together, we will create a brighter and "greener" future.
- John A. Grimes
CEO & Trust Officer
Vision Statement
To be the motivating influence which enable this bank to achieve the
"Balanced High Performance Bank" status.
To enhance technology to the maximum benefit of the bank, staff and customer.
Continue to have the bank and staff be a substantial presence in the West Union and surrounding communities.
To maximize the staff's product knowledge, technical skills and performance.
To develop and maintain strong internal controls.
To enable those members of the staff that qualify to participate in the success of the bank through recognition, job security, salaries and different employee investment opportunities.
Mission Statement
Why are we here?
The First National Bank of West Union's mission is to profitably deliver high quality products and customer services while providing a positive, challenging and pro-active work environment.
Our History
1934 Fayette County National Bank (1874) surrendered its charter at 116 South Vine and was sold to First National Bank of West Union for $10,000. First National Bank of West Union formed a new charter and moved to its current location with $175,000 in deposits.
Frank Camp was named first bank president.
1944 Lightening struck the bank and caused a small fire. Deposits reached $2 million.
1945 W.H. Antes was named president.
1949 Bank was remodeled, and steel bars and teller cages were replaced with modern teller windows.
1954 ~ 1966 Deposits grew from $3.4 million to $8.8 million.
1962 A Farm Department was added to First National Bank of West Union. Seventy percent of the loans were made to farmers. Robert J. Ralston, NF FFA teacher, was named head of the department.
1963 Carroll Grimes was named President.
1967 First National Bank of West Union opened a new drive-in facility on West Bradford.
The Estey building to the north of the main bank was purchased and made into officers' quarters and a directors' board room.
1977 Adjoining building to the south was purchased and made into offices for the Farm Department. Deposits reached $28.8 million.
A branch office was opened in St. Lucas.
Robert J. Ralston was named president by winning a coin flip with Bruce Crandall for the position. Crandall was named executive V.P.
1982 An open house was held following a 14-month renovation of the main bank. An elevator was included in this major renovation project.
The first ATM machine was added to the main bank's entry.
1985 Bruce Crandall was elected president.
1988 May marked the beginning of the "Union of Friends" club.
1991 First National Bank of West Union purchased $10 million in deposits from the local office of the failed Statesman Bank for Savings. In doing so, it gained valued customers.
2002 In-house processing began. Check Imaging was introduced, so customers no longer received their canceled checks back.
2003 Web site was developed at www.fnbwu.com.
2004 John Grimes was named president.
Technology advanced to include online banking.
2005 New teller machines were installed. All transactions are immediately posted to the account.
2007 ATM was installed at the St. Lucas branch office.
2008 An open house was held following a three-month renovation of the main lobby.
E-Checking and Bill Pay became available online.
2009 Marks the 75th Charter Anniversary of First National Bank of West Union, Deposits have grown to more than $90 million.
New sign installed at the Drive-in bank.
