A history of growth: GNB celebrates 85 years in Grundy Center

As the Great Depression decimated large portions of the country in the early 1930s, Ferdinand Henze opened a new financial institution in Grundy Center. On March 16, GNB Bank (formerly known as Grundy National Bank) celebrated 85 years in business, and CEO/Chairman of the Board Kevin Swalley spoke to The Grundy Register about success, growth and evolution in an ever-changing industry.
           
To mark the anniversary, GNB is offering an 8.5 month certificate of deposit (CD) with a 3.16 annual percentage yield, and because the company started here, it’s particularly special for employees and customers at this location. GNB now operates banks in Conrad, Ackley, Geneva, Iowa Falls, Manchester, Marshalltown and Story City and employs between 125 and 130 full time equivalents (FTE), but the headquarters are firmly rooted in Grundy Center and presumably always will be.
           
“We think it’s been a great partnership. Obviously, we benefit as our customers continue to trust us and do their business with GNB,” Swalley said. “Also, we think we’ve given back to the community by supporting local projects, whether it’s the local hospital, the fire department or the school.”
           
Most recently, GNB has established its own community development corporation aimed at purchasing and refurbishing dilapidated homes to be sold as affordable housing, and over the years, it’s helped to launch countless local businesses while helping farmers get started and stay afloat during tough financial times.
 
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