Our History
Ohnward Bank & Trust was formed on October 26, 2009 by the merger of two existing Ohnward Bancshares banks, Tri-County Bank & Trust and United Security Savings Bank.
Ohnward Bancshares, Inc was formed in 1967 by John W. Fagerland and Edward L. Tubbs. John and Ed had personally purchased controlling interest in Maquoketa State Bank in 1966. A year later, for tax reasons, they formed a bank holding company and transferred their stock ownership of MSB into the new company.
They selected the unusual spelling of “Ohnward” by combining the latter portions of each of their first names. Through the years, Ohnward has grown, but it has always maintained its local ownership and operation. The principal shareholders are members of the Tubbs and Fagerland families and participants of the Ohnward Bancshares, Inc. Employee Stock Ownership Plan.The remaining 200 Ohnward stockholders reside in Eastern Iowa, primarily in Jackson, Clinton, Scott and Jones counties. Al Tubbs, Brig Tubbs, Abe Tubbs, and Kendra Beck, all members of the Tubbs and Fagerland families, are active participants in the management of Ohnward and its subsidiaries. Today Ohnward owns 100% of Maquoketa State Bank, First Central State Bank, Gateway State Bank, and Ohnward Bank & Trust.
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