Today, Bankers Trust announced its half-year and second quarter financials, reporting record performance for both. Consolidated earnings for Iowa’s largest independently owned bank’s three months ending June 30, 2017, were $11.1 million and the highest second-quarter earnings in the company’s history. Cumulative earnings results for the first six months of the year were $22.1 million, a 32.6 percent increase over the same period last year.
The bank also continued to progress on its goal of growing to $5 billion in total assets by 2020. Consolidated assets as of mid-year were at $4.3 billion, an increase of $196 million from year end, making Bankers Trust one of the top 250 banks in the United States (based on asset size).
The largest contributor to this year-to-date success is the Bank’s increase of $155 million in loan volumes since the end of 2016. The bank ended the second quarter with a $3.5 billion portfolio, an increase of 4.7 percent from year-end 2016. According to Don Coffin, President, “Bankers Trust continues to outpace the industry when it comes to loan growth, without sacrificing asset quality. The expansion of Bankers Trust in all markets – Des Moines, Cedar Rapids and Phoenix – has exceeded expectations while asset quality remains exceptionally strong.”
Deposits also continue to grow and were at $3.2 billion at the end of June, an increase of $150 million from year end. One factor that contributed to this success was a record number of new checking accounts opened at branches.
“We are off to an outstanding start as we celebrate our centennial year. It is rare for a bank to grow for 100 years under the same name and Bankers Trust is indeed such a rare organization. We are well-positioned as Iowa’s most profitable independent bank as we move into our next 100 years,” said Coffin.
