WCF Financial Bank continues strong growth in Tama-Toledo
Despite having a presence in the Tama-Toledo market for a short time, WCF Financial Bank’s Tama branch continues to record impressive growth. Bank employees Kelly Smith and Jenn Thiessen are both well-established, long-time bankers in Tama-Toledo as they lead the bank’s efforts in the relatively new branch.
Smith joined WCF in January, 2020 as the Tama Market President, while Thiessen joined the bank that summer. Both Smith and Thiessen previously worked together at a local competitor for a number of years. Originally WCF opened as a Loan Production Office in Tama, which allowed the bank to provide only credit-related products. However, the extremely strong response from the market led the bank to quickly convert to a full service branch the following year. Today the branch offers a full line of both loan and deposit products and services. Loan balances now exceed $40 million as the rapid growth continues.
“We’re extremely pleased with the response from the Tama and Toledo communities, as well as the greater Tama County area,” Smith said. “With our small size we can offer personalized service to our customers, who Jenn and I have known for many years on a first name basis.”
Thiessen indicates that while the initial strategy was primarily to grow borrowing relationships, the branch is now establishing its local deposit base. “We’re extremely busy here as we continue to bring new customers into the WCF family,” Thiessen said. “We anticipate the strong loan growth continuing, and now we’re augmenting that with an increased focus on our checking, savings, and CD offerings.”
WCF President/Chief Executive Officer Tim Kluender has been impressed with the Tama branch’s early results. “By any measure, the number and amount of borrowing relationships established in Tama has been quite impressive,” Kluender said. “That growth is a credit to Kelly and Jenn’s knowledge of the Tama/Toledo area, and the tremendous respect they’ve built as community bankers in that market over many years. Now we’re starting to see the deposits follow suit, which is certainly the next objective.”
WCF Financial Bank is a $140 million asset bank headquartered in Webster City, Iowa, with additional Iowa locations in Independence and Tama. The bank offers full service at each of its three locations, including all types of deposit and lending products, and is a member of the Federal Deposit Insurance Corporation (FDIC) and an Equal Housing Lender.