Iowa First Bancshares Corporation achieves national recognition
Iowa First Bancshares Corp., the parent company of First National Bank of Muscatine, Iowa, and First National Bank in Fairfield has again been recognized for superior financial performance.
The May 2014 edition of American Banker Magazine included a ranking of the top 200 community banks and thrifts, based upon three-year average return on equity, with less than $2 billion of assets. Iowa First Bancshares Corp. was included in the prestigious list for the sixth consecutive year.
Iowa First Bancshares has been included in the top 100 community banks and thrifts for each year 2008 through 2012, and was number 103 on the 2013 list.
Kim Bartling, executive vice president, chief operating officer and treasurer of Iowa First, commented, “Our team of dedicated bankers are honored to be recognized for the sixth consecutive year as one of the top community banking organizations in the country based on three year average return on equity. Our organization places great importance on achieving a strong return on equity in accordance with our corporate objective to maximize shareholder value through the prudent deployment of the capital entrusted to us.”
Bartling also noted, “another indicator of Iowa First’s emphasis on shareholders is the company’s dividend yield, which averaged over 4.9 percent for the five year period ending Dec. 31, 2013, and which currently stands at approximately 3.7 percent.”
D. Scott Ingstad, chairman, president and CEO added, “We are pleased to be again included in this prestigious ranking of our peers, and to be recognized as a company which focuses on providing value to our shareholders. Our consistent attainment of return on equity at these superior levels is directly attributable to the hard work, focus on excellent customer service and dedication of our banking professionals and directors.”