History

Our History

We have been in business over 100 years. We respect our past, we respect today and we will continue to respect our communities as we work towards our next 100 years of 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

    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

    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

    South Ottumwa Bancshares, Inc. becomes subsidiary

  • 1987

    Robert Ackley retires from the Bank after 31 years

    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

    Don Roemerman becomes acting president

  • 1997

    Thomas M. Awtry becomes President/CEO

    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

    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

  • 2011

    Purchased Hedrick Savings Bank

  • 2012

    Thomas M. Awtry retires from the bank after 15 years

  • 2013

    Teri Messerschmitt becomes President/CEO

  • 2015

    Merged with sister bank, West Liberty State Bank