Iowa Falls State Bank was the first bank to reopen in Iowa Falls after the five banks in town were closed by the stresses of the Great Depression. It opened up for business on May 25, 1933, with a capital of $25,000 and a surplus of $5,000. On the first day the bank was opened, deposits of $25,000 were made, demonstrating a strongly felt need for a bank and also the confidence of the public in the new bank.

The bank’s origins stretch back to the Commercial Bank of Iowa Falls, which was organized in 1882. Two years later, the bank changed its name to First National Bank. Mr. E. O. Ellsworth was President of this bank for many years.

In 1918, the old bank building on the southwest corner of Washington Avenue and Stevens Street was torn down and a rather ornate two-story building, designed by the Lytle Company, was erected in its place. First National Bank was unable to withstand the Great Depression and closed its doors on December 2, 1932.

For many years, the First National Bank and its successor, Iowa Falls State Bank, occupied only a single 22-foot front on Washington Avenue. Later the bank expanded its premises to include two more fronts immediately west of the original building.

The Neo-classical building constructed in 1918 with its Corinthian columns flanking the entrance and Ionian columns on the east (Stevens Street) side now serves as the anchor for the entire three-front institution.

Since Iowa Falls State Bank was established in 1933, it has had only three principal owners: A. C. Thornburg and his wife Rosa from 1933 to 1945; Floyd A. Rummel from 1945 to 1952; and the Barlow family from 1952 to the present. Bob Barlow was president of the bank and chairman of its Board of Directors from 1952 until his death in 1995. Jerene Barlow was a director from 1952 until her death in 2001.

The Barlow family continues as owners of the bank with John Barlow elected as chairman and CEO. Howard Wenger was hired as president in 1997. The present Board of Directors consists of John Barlow, Pam Angstman, Cinda Classon, John Campbell, Craig Harris, James Hoffman, Michael Holt and Howard Wenger.

Richard Welden served on the Board of Directors from 1943 until his death in 1992. Don W. Barker served on the Board of Directors from 1952 to 1996. Roger Bjorenson served on the Board of Directors from 1968 to 1995. William Harris served on the Board of Directors from 1971 to 1997.  Donald J. Henrich served on the Board of Directors from 1986 to 2009.

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