The history of our Bank dates back to April 25, 1914, in the small community of Slifer, Iowa, when a group of local farmers met and decided a bank was needed in the area. As a result, they organized and chartered Slifer Savings Bank.
Having survived the Depression of the early 1930s, the Bank relocated to Farnhamville on June 1, 1934, and the charter was changed to Security Savings Bank. In November 1989, the Bank moved to its current facility at 320 Garfield Avenue in Farnhamville.
Two additional offices were acquired in October 1995 in Harcourt and Lehigh. In December 1996, the charter was moved to Gowrie, with the main bookkeeping operations remaining in Farnhamville.
Security Savings Bank has continued to grow by supporting communities in need of banking services — acquiring offices in Boxholm (1997), Dayton (2007), Stratford (2019), and Manson (2022).
| President | Years of Service | Total Years of Service |
|---|---|---|
| Ben Heggen | 1914 – 1932 | — |
| Ben Hanson | 1932 – c.1946 | — |
| Oscar W. Madson | c.1946 – 1976 | 62 years of service |
| John C. (Chuck) Madson | 1976 – 1981 | 43 years of service |
| Dewey C. Madson | 1981 – 1993 | 52 years of service |
| Steven R. Lane | 1993 – 2015 | 44 years of service |
| Bradley S. Lane | 2015 – Present | Serving since 1996 |
Our Bank has been locally owned and operated for over 110 years. We began in 1914 with very few financial resources, reached $10,000 in assets by 1934, and are proud to say our assets now exceed $200 million.
We invite you to save and invest with people you know and trust.
We take pride in being a locally owned and operated community bank. We understand agriculture and work hard to meet each customer’s individual needs.
As a local, independent bank, all loan decisions are made right here — by people who know our communities. We reinvest locally because we believe in strengthening the towns and families we serve.
You can count on us for fast, friendly “hometown service,” competitive interest rates, and payment plans that fit your budget.
