Fairfield Ledger

Mt. Pleasant News   Wash Journal
Neighbors Growing Together | Jul 16, 2018

Libertyville: A look back in time

Sep 14, 2017

NOTE: Libertyville will be celebrating its 175th anniversary on Oct. 7. To lead up to the event, the town, its businesses and residents will be sharing highlights from the community’s history.

Libertyville Savings Bank was founded in 1901 in Libertyville, Iowa. In 1920, the first female employee was hired. The bank’s current president, Robert B. Stump, joined the bank as a teller in 1960. In 1976, the original bank building was given a large face-lift and expansion, which doubled the size of the original bank building. In 1980, Mr. Stump gained majority interest in the bank which continued to grow. At that time, the bank had grown to $6 million in assets. In February of 1996, the bank constructed a new building and moved its charter from Libertyville to Fairfield. In July of 1997, we purchased a closed bank building in Eldon and reopened it, quickly gaining the support and business of many Eldon private citizens, businesses and farmers. By that time our assets had reached about 55 million. In October of 2007, the bank opened its fourth location in Keosauqua, Iowa and had grown to $150 million in assets. In 2015, we purchased the Farmers Savings Bank in Keota increasing the bank’s size by about 50 percent. The bank continues to grow and today has assets of over $340 million with 50 full time employees.

Mr. Stump’s daughter, Jill Burnett, serves as CEO and two other daughters play integral roles at LSB. The board of directors includes: Robert B. Stump (Chairman), Mike Holt, Jill Burnett (CEO), Larry Unkrich, Amber Stump McDowell (VP Marketing), Blain Smith (VP AG Loan Officer), Dave Hobscheidt, Ryan Troutman (CFO), and Lori Mitchell (COO).

The bank has been named one of the Des Moines Register’s Top Places to Work for 3 years in a row.

Small Town — Great Place

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