History of Ohnward Bank & Trust
“In Business for over 116 Years Ohnward Bank & Trust understands the importance of supporting organizations within the communities they serve and encouraging local prosperity.”
Founded in 1902
Ohnward Bank & Trust’s history began as Baldwin Savings Bank by a group of local businessmen in November of 1902. Twenty-seven stockholders bought 100 shares of stock at $100.14 per share. The bank opened for business in 1903 in a building now known as the C.A. Harding Center which doubled as a community center for the town of Baldwin. C.A. Harding, better known as Charlie, worked for the bank for 57 years from 1916 to 1973 as Assistant Cashier, Cashier and a board member. He was instrumental in the success of Baldwin Savings Bank and the lives of Baldwin residents. This is why the community center in Baldwin bears his name.
Through the years, the staff and directors of Baldwin Savings Bank served area farmers and businesspeople well. It was one of only two banks in Jackson County that survived the bank closings during the Depression of the 1930’s. In 1963, the bank moved south into a newly constructed building which provided much needed room for the bank’s operations.
1992 Ohnward Emerges
Ohnward Bancshares, Inc. purchased controlling interest of Baldwin Savings Bank on February 25, 1992. At that time, total assets were approximately $14.9 million and equity capital was approximately $1.58 million. In 1994, to expand the bank’s opportunities for growth, the bank’s charter was moved to Cascade.
1998 Tubbs Named CEO
Abe Tubbs joined the Ohnward organization in 1998, and became President and CEO of OB&T in 1999. Abe continues to serve as CEO along with his other duties as President and CFO of First Central State Bank and his work at the Ohnward holding company level.
January 17, 2003 saw the addition of First Iowa Bank. At the time of purchase, First Iowa Bank had $20 million in assets with its main office in Monticello and branch in Onslow.
In 2006, Ohnward Bancshares, Inc. purchased United Security Savings Bank with offices in Marion and Cedar Rapids. Ohnward operated the Savings and Loan Institution as a stand-alone bank until 2009 when it was merged with Ohnward Bank & Trust.
Ohnward Bank & Trust today operates with six locations and has become a significant player in the Cascade, Monticello, Marion, Central City and Cedar Rapids markets, while continuing to serve its original mission in Baldwin. The original Baldwin Savings Bank charter remains as the original charter of Ohnward Bank & Trust. The bank emphasizes the building of personal relationships with its clients and volunteerism within the communities it serves.
Board of Directors
Abram Tubbs – CEO Ohnward Bank & Trust
Alan Tubbs – CEO Ohnward Bancshares
Brigham Tubbs – CEO First Central State Bank
Kendra Beck – COO Ohnward Bancshares
Mike Beck – Owner - Beck Construction
David Welter – Owner/President - Welter Storage & Equipment Co.
James Craig – Founding Member - Lederer, Weston, & Craig PLC
David Verhille – Managing Partner - TrueNorth Wealth Management
Liz Mathis – State Senator Iowa's 34th District and Chief Community Officer - Four Oaks
Katie Mulholland – Member - Iowa Board of Regents / Retired Linn Mar School District Superintendent
David McInally – President - Coe College
Mary Meisterling – Community Relations / Economic Development Manager - Alliant Energy / Cedar Rapids Board of Education Member
History of Ohnward Bancshares, Inc
Ohnward Bancshares, Inc. was formed in 1967 by John W. Fagerland and Edward L. Tubbs. John and Ed had personally purchased controlling interest in Maquoketa State Bank in 1966. A year later, for tax reasons, they formed a bank holding company and transferred their stock ownership of MSB into the new company.
"They selected the unusual spelling of “Ohnward” by combining the latter portions of each of their first names. Through the years, Ohnward has grown, but it has always maintained its local ownership and operation. The principal shareholders are members of the Tubbs and Fagerland families and participants of the Ohnward Bancshares, Inc. Employee Stock Ownership Plan."
Ohnward Bancshares, Inc., a billion-dollar plus holding company with 18 financial offices in Eastern Iowa including Maquoketa State Bank with offices in Maquoketa, Andrew, and Preston; Ohnward Bank & Trust with offices in Baldwin, Cascade, Cedar Rapids, Central City, Marion and Monticello; First Central State Bank with offices in Clinton, DeWitt, Eldridge, Goose Lake, and LeClaire. Additional services offered through all banking offices under the Ohnward banner, include Ohnward Insurance Group; Central Realty; Ohnward Financial Advisor Services; Ohnward Farm Management; Ohnward Tax, Accounting and Business Services; Vosler Investment Group and Ohnward Wealth & Retirement.
Ohnward Bancshares, Inc., has assets of $1.2 Billion, capital of $170 Million and employs over 260 full and part time employees. Ohnward is locally owned by shareholders living primarily in Jackson, Clinton, Scott, Jones, and Linn Counties. Bank management’s focus continues to be helping clients and communities grow and prosper. The banks and ancillary businesses have a strong record of community and economic development, and educational and cultural support within the markets they serve.