In 1904 there were many banks springing up across the state of Iowa. Many of these banks were rural in nature, with heavy ties to their local farming economy. What is now Legacy Bank was originally named Farmers Savings Bank and opened in the small town of Ira, Iowa. B.F. Baker was the first President until his death in 1927. F.W. Trammel took over the bank in 1928 and was President during the beginning of what would become the Great Depression. Sometime in the 1930’s Russell and Iona Blake gained a controlling interest in the bank.
In 1936 the bank moved its location and charter to Mitchellville, Iowa. Mitchellville was a vibrant agriculture community with multiple local businesses and a local COOP. This was during the time of the original organization of the Federal Depository Insurance Corporation (FDIC). This agency fundamentally changed the nature of banking within the United States. Mr. Blake ran the bank in Mitchellville until 1963 when he was stricken with cancer. Iona, having to take over the bank, enlisted the help of A. Emsley Chittenden, a banker from Collins, Iowa who was owner and President of Exchange State Bank, to help her transition and run the bank.
In 1968 A. Emsley Chittenden bought the bank from the Blakes and opened another branch in Bondurant, Iowa. The bank and the local economies of Bondurant and Mitchellville continued to grow. Mitchellville, while being a predominantly agriculture market also had several other thriving businesses in town. Robert Chittenden managed this bank until 1985 when he took over controlling interest of the bank before the passing of Emsley soon after.
While the bank continued to grow, the nature of the communities continued to evolve. Still a predominantly agricultural community, Mitchellville changed as farming and other suburbs began to grow around the Des Moines metro. In 1994 Farmers Savings Bank moved the charter to Altoona, Iowa in an effort to better serve our customers and their changing needs. Altoona grew very quickly and the bank grew as well, while focusing on changing the services of the bank. With the three branches in place, Farmers was now doing Agriculture, Construction, Personal, Commercial, and other types of business in the Metro area.
Recognized in these communities by our familiar red brick colonial style banks, we found success through personal banking relationships and involvement within the communities we serve. In 2001 it was decided that the name Legacy Bank more accurately represented the type of bank we had become and our name was changed to reflect that. In 2005, with the continued growth of the town of Bondurant, we invested in a new facility to better serve the dynamics of that growing community. Since the 1980’s several of our banks had experienced a culture shift, as many of the local residents drive to other towns for employment. Our goal has been to evolve with our communities and over time the banks have adapted to this.
In 2007 Legacy Bank constructed its fourth branch in Clive, Iowa. Many of the relationships we had built throughout the years were in multiple locations and wanted to do business on the west side of the metro for convenience reasons. This branch has expanded to reach new relationships and especially people who had missed the personal connection with a local institution. We continue making changes to the way we do business without forgetting who we are. Our goal is to invest money in the local communities, give outstanding expert service, and give our customers a feeling of being treated like a partner and not a number.
Success of our customers is why we still exist today. In a world of uncertain times and change our goal is to hold onto what the original idea was in 1904. Serving our communities by building legacies one customer at a time.