Our History

1903 Bank established as a currency exchange on the site that is presently South Side Drug, Frank McIntire elected President
1910 South Ottumwa Savings Bank incorporated (2-18-10)
1911 C. D. Evans and brother, H. H. Evans, joins the Bank
1912 New building erected at the corner of Weller & Church, where presently located
1922 Ralph Watson joins the Bank
1955 Myron Ackley elected to the Board of Directors
1955 Bank building remodeled
1956 Robert Ackley, son of Myron, joins the Bank
1957 C.D. Evans retires from the Bank and the Board of Directors
1958 H.H. Evans retires from the Bank and the Board of Directors
1959 Lot next to the Main Bank, which housed the Do Drop Inn, was purchased
1964 Original bank building removed and existing building constructed
1970 Robert Ackley elected President
1976 Ralph Watson retires from the Bank after 53 years
1976 Penn-Elm Bank was opened
1980 Motor Bank was opened
1982 Two-story addition added to the Main Bank on the original bank building location
1985 M.L. Ackley retires from the Bank after 30 years
1986 Robert Ackley becomes Chairman of the Board
1986 South Ottumwa Bancshares, Inc. becomes subsidiary
1987 Robert Ackley retires from the Bank after 31 years
1987 Phil Drumm becomes President/CEO, Don Roemerman becomes Chairman of the Board
1990 Sunshine Club established
1992 Purchased Peoples Federal Savings Association’s assets
1994 Purchased parking lot behind Main Bank to expand customer parking
1995 New Addition added to relocate Loan Department, Ag Department and Sunshine Club
1996 Fatal plane accident involving Bank President, Phil Drumm and Board Director, Dave Carpenter
1996 Don Roemerman becomes acting president
1997 Thomas M. Awtry becomes President/CEO
1997 Don Roemerman retires from bank after 43 years
1998 Major remodeling at the Main Bank
1999 Remodeling at the Penn-Elm Bank
2000 Completion of the Penn-Elm Bank remodeling
2000 South Ottumwa Bancshares, Inc. becomes Cornerstone Financial Services Group, Inc.
2001 Ground breaking for the North Court Bank
2002 Completion of the North Court Bank with grand opening April 1, 2002
2003 South Ottumwa Savings Bank celebrates 100 years
2008 South Ottumwa Savings Bank purchases Fareway property
2012 Thomas M. Awtry retires from the bank after 15 years
2013 Teri Messerschmitt becomes President/CEO