Laurens State Bank Rates & Review

Laurens State Bank Review

Community banks often have a long history of commitment by a group of local residents, and Laurens State Bank in Iowa is no exception. The bank is now owned by the family of one of the original founders of the bank.

E.B. Pannkuk came to Laurens, Iowa, in 1932 as part of the Depression-era banking turmoil, when he was brought in to liquidate the assets of several local banks. He decided to stay in the area and became one of the founders of Laurens State Bank in 1935. Pannkuk became President and Chairman of the Board of the bank in 1970 and his family bought the bank in 1980.

Headquartered in Laurens, Iowa, the bank has three branches and has earned a "superior", five-star rating from Bauer Financial in 2010.

Financial services

In addition to traditional bank accounts, Laurens State Bank offers a full array of personal and business financial services. The bank offers agricultural, commercial, consumer and real estate loans to individuals and businesses.

The company also has property, casualty, crop and hail insurance available for customers.

Business and individual customers can access their account information and sign up for online bill paying through Laurens State Bank.

Financial products

Customers can choose between a number of checking account options at Laurens State Bank including a free checking account, a student checking account and a senior checking account.

For savings, customers can open a bank savings account or a money market account or invest in a certificate of deposit (CD).

Deposit insurance

Laurens State Bank has been insured by the Federal Deposit Insurance Corporation since 1935. FDIC coverage for eligible deposits was permanently increased from $100,000 to $250,000 per depositor in July 2010. Joint accounts are insured by FDIC up to at least $250,000 per account holder.

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