News

Treynor, IA (October 31, 2014) – As of October 31, 2014, the TS Banking Group has officially acquired The Bank of Tioga, in Tioga, ND, with banking assets of $150 million from the Tioga Bank Holding Company.

The TS Banking Group is a joint venture between Treynor Bancshares, Inc., the bank holding company of Treynor State Bank (TS Bank), with banking assets of $290 million; and the newly formed bank holding company, TS Contrarian Bancshares, Inc. The TS Banking Group and two affiliated bank holding companies are headquartered in Treynor, IA, near the Omaha, NE MSA.

The Bank of Tioga values citizenship, exceptional client service, and serving as a business leader in its community – values that align with the TS Banking Group. The Bank of Tioga will retain its strong community focus, name and staff, including David Grubb as President and Timothy J. Joyce will continue serving on the Board. 

The TS Banking Group is a dedicated community banking group focused on upholding a community bank management philosophy with the purpose of acquiring community banks in the upper Midwest. The overall objective of the acquisition strategy is to expand an organization with a client?focused operating efficiency that allows for the long?term prosperity of community banking. To achieve this goal the TS Banking Group must 1) preserve the ‘local touch’ at each community bank by allowing the acquired bank to focus their efforts on serving their clients and communities where they are located, and 2) harness the power of a multi?bank operating group to provide a high level of technology, risk management, and financial management.

“Our focus has been and will continue to be centered on quality client service, and we look forward to providing expanded services and product offerings,” stated David Grubb, The Bank of Tioga President. 

The TS Banking Group will look to assist The Bank of Tioga in providing Wealth Management and Trust Services. Additionally, leading?edge banking technology for clients such as a mobile banking app, person to person mobile payments, mobile deposit capture, as well as remote deposit capture and cash management services for business clients will be offered. “One of the things that attracted us to the TS Banking Group was their track record of community reinvestment and focus on community bank values,” said Grubb. “They are committed to reinvesting 10% of their affiliated bank’s pre?tax income back into the communities. This reinvestment is made in the form of sponsorships, donations to local non?profits, and support of the local schools through the TS Institute, a K?12 financial literacy program.”

“The Bank of Tioga shares many of the same qualities and values of the TS Banking Group, which makes this a great fit for both organizations. The bank is located in a community with Midwestern values that is experiencing economic prosperity,” commented Joshua M. Guttau, TS Banking Group CEO & CFO. “The bank has been well?run with good credit quality, supportive of the community, and has a team of experienced employees – something that is very important to us! 

“The TS Banking Group is not just about being a community bank, it is about serving as a community prosperity engine," shared Guttau. “Going forward, as we work together, we will strive to provide an even more positive impact on The Bank of Tioga’s clients and the community of Tioga,” said Guttau.

About TS Bank and TS Banking Group:

Treynor State Bank was chartered in 1923, branded to TS Bank in 2005, and was the beginnings of the TS Banking Group. TS Bank is a locally owned, community bank with $288 million in assets. In addition, TS Bank has the largest state chartered C Corp trust department west of Des Moines with nearly $270 million in assets. TS Bank is dedicated to community prosperity and reinvests 10% of their net income back to the community. Branch locations include Treynor, Macedonia, and Council Bluffs, IA. Michael (Mick) K. Guttau is Chairman of the Board and Joshua M. Guttau is CEO and CFO.