Ackley State Bank

Ackley State Bank was established on January 1, 1934. It initially operated as a local financial institution, providing various banking services to the community. Over the years, the bank underwent several regulatory and structural changes. On November 3, 2011, Ackley State Bank became a member of the Federal Reserve System and changed its classification to a state-chartered bank under the supervision of the Federal Reserve. Additionally, on the same day, it transitioned its primary federal regulatory agency to the Federal Reserve. In 1934, the bank also acquired full trust powers. Ultimately, on January 1, 2016, Ackley State Bank merged with Gnb Bank, located in Grundy Center, Iowa, marking the end of its independent operations.

Below is a list of some important events in banks history, including mergers and acquisitions.

1934-01-01Institution established. Original name: Ackley State Bank.

1934-11-09Changed Trust Powers to Full

2011-11-03Institution becomes member of the Federal Reserve System.

2011-11-03Changed Bank Class to State Chartered Bank, member of the Federal Reserve System (FRS).

2011-11-03Changed Primary Federal Regulatory Agency to FED.

2016-01-01Merged and became part of Gnb Bank (14079) in Grundy Center, IA.