About Us
History of City State Bank in Ogden, Iowa
City State Bank has been a corner stone of the Ogden community for more than 120 years. We are 100% locally owned and take pride in supporting our citizens as well as those in the surrounding area. We offer the best customer service and you can always speak to friendly people with power to make quick decisions and give expert advice that's right for you. City State Bank... We're Here On Your Account!
1884
City State Bank of Ogden was organized June 1, 1884 by Wallace Farley and David C. Nelson as a private bank known as the City Bank of Ogden. The first officers of the bank were Wallace Farley, president; David C. Nelson, vice president; and Fedder Lorenzen, cashier. Nelson later sold his interest in the bank to Lorenzen in 1889.
Wallace Farley was born in Canada March 4 1848. He came to Ogden in 1875 where he opened a lumber yard, hardware and implement store and engaged in the grain business. He also invested in real estate and had extensive property holdings. The success of the City Bank was said to have been due in large measure to the enterprising and substantial measures established by Mr. Farley. He was interested in the public welfare and served as a member of the city council and school board. Farley and his wife, Julia, transferred title to the bank building to City State Bank June 5, 1907. He served on the Board of Directors from 1907 to 1916 and was vice president from July 1910 until July 1915 when he resigned. Wallace Farley remained a stockholder of City State Bank until his death in September 1921.
Fedder Lorenzen was born in Schleswig-Holstein, Germany, January 2, 1850. He was 20 years old when he immigrated to the United States. He had been raised on a farm and he and a partner started a dry goods and grocery business in January 1878 known as "Brammer & Lorenzen". Mr. Lorenzen was married in Ogden in 1875 to Miss Wiebke Clauson, a native of Germany. The couple had two children, Ferdinand M. and Anna M. Lorenzen. Fedder Lorenzen died July 1, 1902.
1907
City State Bank, formerly the City Bank of Ogden, filed articles of incorporation June 18, 1907. The bank had capital stock of $25,000 and total assets of $293,704.
1918
In August 1918, the bank became a member of the Federal Reserve System.
1935
In January 1935, First National Bank and City State Bank merged with assets of $1,140,427. The First National Bank building was enlarged and remodeled while business carried on in the City State Bank building. Open house for the newly remodeled bank was set for February 8, 1936, but was not held because of the "blizzard of 1936".
1950
Once again, City State Bank became a hometown bank in January 1950, when the controlling interest was returned to Ogden through the purchase of the stock from A.T. Donhowe and associates by R.E. Jenkins, L.A. Good and H.A. Boehm. Assets were $3,318,000. On January 12, 1951, Helen (Lass) Miller and Rose (Sweeney) Johnson were elected assistant cashiers and became the first female officers of the bank.
1958
L A. Good was appointed to serve as president.
1960
In May, the death of Fred Lorenzen, age 83, marked the passing of the city's oldest resident who had been born here and lived here all his life. He had served City State Bank as bookkeeper, cashier and president.
1977
In 1977 L.A. Good purchased the former R.E. Jenkins stock which made him owner of the majority of interest.
1979
H.A. Boehm died October 1, 1979, having been in the banking business in Ogden for a period of 62 years and serving as an officer of the bank since 1935.
1983
City State Bank moved into a new stone building at the corner of SW 2nd and Mulberry Street. The building was built on property purchased from the
E.G. Carlson family.
1984
The bank observed its 100th anniversary in June. Assets totaled $33,014,179 and capital was $3,861,454.
1989
At the time of Leonard A. Good's death on November 13, 1989, his banking career with City State Bank has spanned 68 years.
1991
Improvements were made to the building in the lower level. An elevator, a board room and a community room known as the "State Room" were added.
1992
Assets totaled $51,945,852 and capital was $7,741,684.