Pilot Grove Savings Bank
Pilot Grove, Iowa, Lee County
$1.2B in total assets, the 898th largest of 4,309 US banks and 25th of 227 headquartered in Iowa.
- FDIC certificate
- 9100
- Established
- 1911
- Owned by
- Pilot Grove Sb Employee Stk Ownership Plan
- Primary regulator
- FDIC
At a glance
Compared with 26 banks headquartered in Iowa with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $1.2B | 8% | $1.8B | |
| Loans | $907M | 15% | $1.3B | |
| Deposits | $1.1B | 15% | $1.5B | |
| Return on assets | 2.01% | 92% | 1.28% | |
| Net interest margin | 3.87% | 88% | 3.49% | |
| Efficiency ratio | 38.1% | 4% | 52.3% | |
| Equity to assets | 9.98% | 46% | 10.33% | |
| Loans to deposits | 84% | 23% | 91% |
Growth
Total assets grew 9.9% a year over the last 5 years and 7.9% a year over 10 years, including 1 acquisition in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Jul 2024 | Wayland State Bank Mount Pleasant, IA | $125M |
| Jul 2004 | The Farmers National Bank of Winfield Mt. Pleasant, IA | $21M |
| Jan 2001 | Farmers Savings Bank Mount Pleasant, IA, an affiliate under the same holding company | $36M |
| Sep 1983 | Citizens State Bank Donnellson, IA | n/a |
Where they operate
17 branches in 5 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Lee County, IA | $678M | 49.0% | 1 of 6 |
| Henry County, IA | $299M | 58.2% | 1 of 6 |
| Jefferson County, IA | $65M | 9.8% | 4 of 5 |
| Des Moines County, IA | $24M | 1.6% | 11 of 11 |
| Van Buren County, IA | $16M | 7.2% | 4 of 5 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net gain of 3 branches since 2016 (14 to 17, +21.4%). 2 opened, 3 acquired, 2 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 14 | |||
| 2016 | Closed Fort Madison | 0 | 1 | −1 | 13 |
| 2020 | Opened West Burlington | 1 | 0 | +1 | 14 |
| 2024 | Acquired Wayland State BankOpened Bonaparte, closed Winfield | 4 | 1 | +3 | 17 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| 1-4 family residential | 37% | 20% | |
| Farmland | 27% | 12% | |
| Agricultural | 16% | 9% | |
| Business (C&I) | 10% | 14% | |
| Commercial real estate | 5% | 23% | |
| Consumer | 3% | 1% | |
| Construction and land | 1% | 8% | |
| Multifamily | 0% | 11% | |
| Other | 0% | 2% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 50% | 58% | |
| Time deposits | 31% | 27% | |
| Noninterest-bearing | 20% | 15% |
Brokered deposits are 0.0% of deposits (peers 5.0%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.13% | 0.31% |
| Net charge-offs, annualized | 0.02% | 0.01% |
| Reserves to loans | 0.99% | 1.22% |
| Leverage ratio | 8.82% | 10.28% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Iowa
Largest competitors in Lee County, IA
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/pilot-grove