Cedar Rapids Bank and Trust

September 04, 2010 | | Temp

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History

In the spring of 2001, four Cedar Rapids banking professionals, Larry Helling, Dana Nichols, John Rodriguez and Mitch McElree, drafted a plan for a new community bank and began sharing their vision and raising capital. Their vision and plan was well received. Within weeks, they were successful in raising the majority of the required capital from 66 local shareholders and on September 28, 2001, Cedar Rapids Bank & Trust opened its doors to the public in the GreatAmerica Building, in downtown Cedar Rapids.

In February 2003, only 17 months later, Cedar Rapids Bank & Trust reported $100 million in assets, an unprecedented milestone by a de novo bank in the state of Iowa. The Bank also achieved profitability the same month. Now, more than five years later, Cedar Rapids Bank & Trust has reported over $342 million in assets as of December 31, 2006, and has expanded from 17 employees to 80 employees.

As a result of this rapid growth, Cedar Rapids Bank & Trust proudly opened its first branch office on June 2, 2005. The site of the 6,000 square foot facility, located at 5400 Council Street NE, Cedar Rapids, Iowa, was chosen because of its proximity to both business and residential properties. Staffed with a team of seven employees, the Council Street office brings convenience to a substantial number of clients and prospects residing in northeast Cedar Rapids.

On July 5, 2005, one month after the branch opening and only a few months shy of its four year anniversary, Cedar Rapids Bank & Trust relocated its main downtown facility from the GreatAmerica Building into the newly constructed Cedar Rapids Bank & Trust Building, located at 500 1st Ave NE, Cedar Rapids, Iowa. Built on land once occupied by the YMCA, the 48,000 square foot facility evokes fond memories throughout the community and sparks an enthusiasm for the growth of the downtown area. Cedar Rapids Bank & Trust is proud to serve as the “front door” to downtown Cedar Rapids. It has greatly increased the bank’s visibility and accessibility within the community and creates a landmark that can be appreciated for years to come.

Overall, both new facilities have allowed Cedar Rapids Bank & Trust to better serve its customers, and are tributes to the support received from its clients, shareholders, community and employees. The buildings are a beautiful addition to the community; however, Cedar Rapids Bank & Trust remains the bank of choice due to its commitment to building relationships with clients.