First State Bank

First State Bank, originally established as the First National Bank in Hawarden, Iowa, on January 1, 1934, underwent several significant changes throughout its history. In 1970, the bank transitioned to a state-chartered institution and withdrew from membership in the Federal Reserve System, with the Federal Deposit Insurance Corporation (FDIC) becoming its primary federal regulatory agency. The bank moved its main office to 722 Central Avenue, Hawarden, Iowa, on April 7, 1975, and expanded its trust powers to full status on October 5, 1989. On September 25, 2017, First State Bank changed its name to Rivers Edge Bank and merged into Rivers Edge Bank located in Marion, South Dakota, marking the end of its operations under the original name.

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

1934-01-01Institution established. Original name: First National Bank in Hawarden.

1970-06-01Institution withdraws from membership in the Federal Reserve System.

1970-06-01Changed Chartering Agency to State.

1970-06-01Changed Bank Class to State Chartered Bank, not member of the Federal Reserve System (FRS).

1970-06-01Changed Primary Federal Regulatory Agency to FDIC.

1975-04-07Main Office moved to 722 Central Avenue, Hawarden, IA 51023.

1989-10-05Changed Trust Powers to Full

2017-09-25Merged and became part of Rivers Edge Bank in Marion, SD.

2017-09-25Changed Institution Name to Rivers Edge Bank.