Iowa First Bancshares Corp.

• Public
• US

Dow Jones Description

First National Bank of Muscatine was founded in 1870, just five years after the end of the Civil War, as a private banking business under the name Silverman, Cook & Company. P.M. Musser, a prominent local citizen, became a partner in the bank in 1875, and the name was subsequently changed to Cook, Musser & Company. By 1896, just fifteen years after the first telephones were installed in Muscatine, the company became incorporated under Iowa banking laws as the Cook, Musser & Co. State Bank and Trust Company. The following year, 1897, brought changes in state banking laws which required five directors to sit on the board. Subsequently, C.R. Musser was elected to join his father (P.M. Musser), S.B. Cook, Anna Funck, and Ed C. Cook on the Board of Directors. At this time P.M. Musser was appointed as the bank's first president. In 1910, the bank name was changed, this time to Muscatine State Bank. To accommodate continued growth, the original building was demolished, and a new, two story building was constructed at the same site. During construction the bank was operated out of a building across Iowa Avenue which had originally housed Hershey State Bank. Banks all over America thrived until the stock market crash of October 1929. By 1933, a third of the nation's banks had failed. Congress enacted the Banking Act of 1933, which closed the remaining banks while examiners checked their solvency. ...

Nuestro Presidente Y CEO

Number of Employees 130

Contact Information

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