TS Bank plans to open eighth location in Iowa

June 1, 2020

Treynor, IA - TS Bank plans to open its eighth banking location in June 2020. This location will open as a loan production office in Ames, Iowa, located at 402 Lincoln Way, with aspirations of growing into a full-service branch location in the future.

Mike Phillips has been hired as the market president to lead the growth of this new market. Phillips has a BA from Simpson College in Indianola, Iowa. He most recently served as a Business Loan Officer with Greater Iowa Credit Union. Phillips is a highly innovative banker with more than 19 years of experience in all areas of bank management, including operations, retail banking and commercial lending.

“During the interview process, it did not take long to see that Mike Phillips shares the same vision and values of TS Banking Group, which makes this a great fit for both of us,” commented Joshua M. Guttau, TS Banking Group CEO.

headshot of mike phillips by his name

Phillips resides in Ames with his wife and two children. He enjoys watching his children participate in various activities including dance, athletics and music. He coaches his son’s little league team and travel baseball team. Phillips serves on the YSS Board of Directors as Treasurer. YSS is an organization that strives to provide hope and opportunity to youth in Central Iowa. He also serves on the Story County Community Foundation Board of Directors, the Ames Little League Baseball Board of Directors and he is an active Rotarian.

Mike stated he is excited to join the TS Bank team. He believes the forward looking, community-focused approach of TS Bank will benefit his clients and the clients will, in turn, help TS Bank continue to be successful.

TS Bank began exploring expanding to Ames in early 2019 and has worked over the past year to identify and acquire the location. Based out of the Ames office, Phillips will focus on attracting new business clients. Phillips will join several other employees from TS Banking Group who work in the market. The office will receive new exterior signage along with a video ATM in 2021 and staffing will expand at this location as market growth occurs in the future.

ts bank building at the ames location

The bank building, built in 1996, boasts 5,000 sq. ft. of retail banking and office space and was acquired by TS Banking Group in December 2019 from Great Southern Bank. The property is located at the corner of Lincoln Way and Washington Avenue, positioned between major thoroughfares Duff and Grand Avenues.

TS Bank is part of TS Banking Group, a joint venture between Treynor Bancshares, Inc., the bank holding company of Treynor State Bank (TS Bank), with banking assets of $365 million, and TS Contrarian Bancshares, Inc., the bank holding company of The Bank of Tioga (North Dakota), with banking assets of $334 million and First National Bank (Illinois) with banking assets of $177 million. TS Banking Group is headquartered in Treynor, Iowa, that is located in the Omaha, Neb. MSA.

TS Banking Group believes through the creation of a multi-bank operating group, the company can provide a high level of technology, risk management and financial management to each community it serves while maintaining a community bank approach. It is TS Banking Group’s main priority to preserve the local touch at each community bank by allowing the local bank and employees to focus their efforts on serving their clients and communities where they are located.

Expanding to the Ames market provides TS Bank with a central Iowa location to assist in future acquisitions and expansion across Iowa. This venture will allow TS Bank, in the future, to serve clients and grow loans, deposits, investment and wealth management clients in the central Iowa corridor.

With $365 million in assets and seven locations in southwest Iowa, TS Bank specializes in consumer, business and ag banking along with cash management services for businesses. Much more than a bank, clients also have access to tax and payroll services in addition to investment, retirement and estate planning services offered by its trust division, branded TS Prosperity Group. The trust division oversees $218 million in assets under management (AUM) and is the largest C-Corp trust department west of Des Moines.

To reach Mike Phillips, call 515-210-1523 or email mike.phillips@tsbank.com. Those interested in opening a TS Bank deposit account from anywhere within the state of Iowa, can apply for an account online via the website at tsbank.com.

About TS Bank: TS Bank’s mission is to Ignite Prosperity® in the communities it serves. Leading the resurgence of community banking, TS Bank reinvests 10% of their net income locally; hosting educational events and partners with local organizations and non-profits. Treynor State Bank was chartered in 1923 and branded to TS Bank in 2005. TS Bank has $365 million in assets, along with the largest Iowa state-chartered C-Corp trust department west of Des Moines at nearly $218 million in assets named TS Prosperity Group. Locations include Treynor, Macedonia, Atlantic, Corning and Council Bluffs, Iowa. For more information visit tsbank.com.