Officials with TS Bank, chartered in Treynor, announce 100 years of serving southwest Iowa. TS Bank was incorporated in May 1923 with a mission to IGNITE PROSPERITY® and is dedicated to changing lives and communities across the Midwest.
Harry Holst served as the bank’s first president from 1923-1952, a non-employment position, followed by Joseph Gronstal, a full-time employee since 1923 and served as president from 1952-1972, and then Robert Gronstal who served as president from 1972-1978. In 1978, Mick Guttau was named CEO, President and Chairman of the Board. At that time, Mick, with the help of his family leveraged the family’s century farm and purchased controlling interest in the bank from the Gronstal family, and it remains a family-owned bank today.
The original bank building was on the southwest corner of the main intersection at Treynor’s infamous “four corners.” In 1983, a new building was constructed at 15 E. Main Street in Treynor. Since then, a new addition was built to add another level of office spaces and additional parking.
During Mick’s tenure, add-on professional services were introduced including a law office, travel agency and expanded wealth management services, which is now known as TS Prosperity Group. The bank continued to mirror growth and modernization, adding a night depository, a drive up and ATM service.
In 2000, TS Bank added its first bank branch in Macedonia, followed by an in-store branch located in the Council Bluffs Madison Avenue Hy-Vee in 2005.
Joshua M. Guttau joined the bank in 2003 and was named CEO in 2014. Mick remains Chairman of the Board. Kevin Forristall joined the bank in 2008 and was named President in 2021. Under new leadership, the bank continues to expand and make an impact, all while still being intentional to its mission-driven principles.
The company culture, originally established by Mick and Judy Guttau over the past 45 years, is still thriving today and is now stewarded by the next generation. TS Bank's 100-year anniversary is a key milestone in its commitment to the communities it serves to DO MORE.
Today, TS Bank has eight locations in southwest and central Iowa, employs over 90 people and has over $390 million in assets. Additionally, it has the largest Iowa state-chartered C-Corp trust department, TS Prosperity Group, in western Iowa and now includes brands of TS Ag Finance, Callahan Financial Planning Company and Collins Consulting. The bank’s newest location in Ames, Iowa opened in April with a grand opening celebration planned this fall.
With roots in community banking, the company has expanded its dedication to revitalizing the industry and its local communities. TS Bank is part of TS Banking Group a multi-charter bank holding company across seven states, with $1.5 billion in banking and fiduciary assets.
As a community bank, TS Bank is an integral part of both the local community and economy. TS Bank is dedicated to community reinvestment and gives 10% of its pre-tax income back to the community. The bank is committed to teaching financial literacy, hosting educational events and partners with local organizations and nonprofits. Since 2007, TS Bank has granted nearly $5 million dollars through these efforts and impacted over 140,000 students and adults through financial literacy.
Mick attributes much of the company's success and service to community due to a lesson from an infantry drill sergeant on a grassy knoll in Ft Benning, Georgia. The lesson? “The TROOPS come first!” He said he has found this phrase to be critical not only in combat, but also in business, community, church and family. The true key to success in combat, banking and life is that you HAVE to take care of the ‘troops.'
As part of this 100-year milestone anniversary community activities and client appreciation events will take place in each of the bank's eight locations, and all are invited to join in celebrating. The first kickoff event is a ribbon cutting ceremony on Tuesday, May 23 at 2 p.m. at 43 Scott Street in Council Bluffs. View the entire calendar event list here or visit tsbank.com/events to learn more.
About TS Bank: TS Bank’s mission is to Ignite Prosperity® in the communities it serves. Leading the resurgence of community banking, TS Bank reinvests 10 percent of their net income locally; hosting educational events and partners with local organizations and non-profits. TS Bank was chartered in 1923 and has $393 million in assets, along with the largest Iowa state-chartered C-Corp trust department west of Des Moines at nearly $220 million in assets named TS Prosperity Group. Locations include Treynor, Macedonia, Atlantic, Corning, Council Bluffs and Ames. For more information, visit tsbank.com.
