2024 Annual Report
Making a Difference
There is a subtle yet significant shift in focus for this annual report – one that is of great importance to me as the company’s leader and uniquely characteristic of community banks. We are highlighting our commitment to making a difference in the lives of our customers, employees, and communities. We achieve this through commercial loans that support economic growth, fostering financial security for families, helping secure legacies through wealth planning, and generously giving of our time and resources to nonprofits that help our communities thrive.
While 2024 was another successful year for Bankers Trust, it was not without its challenges. These included the interest rate environment, intense competition for deposits, and the inverted yield curve, which is sometimes a precursor to economic downturns. Through it all, Bankers Trust remained as relationship-oriented, customer-focused, and community-minded as it has for the last 107 years. Total assets increased to $7.2 billion, due to significant progress in our growth goals across all divisions, and total loans grew 11.0%, to $5.61 billion. Net income for the year was $61.9 million, and we once again donated $1 million to nonprofits in the communities we serve.
In July, we opened our North Scottsdale office, which features an affluent banking model focused on serving customers through private banking, wealth management, and retail services. Not only does this location enable us to support customers in the rapidly expanding Phoenix metro, but it also aligns with our strategy to balance loan and deposit growth across all markets. Similarly, we have witnessed noteworthy growth over the last several years in Omaha and are opening our first full-service branch there in February 2025.
Our impact is driven by dedicated team members who care deeply and focus on four strategic priorities: Customer Experience, Smart Growth, Optimization, and Premier Workplace. Our commitment to customers is reflected in both retention and new growth. We were honored to be voted the Best Bank and Best Commercial Lender in the Des Moines Business Record for the 10th consecutive year, and in the Phoenix market, AZ Business Magazine selected us as one of their Banks of the Year.
Don Coffin, CEO and President
“Our unwavering commitment to making a difference impacts the lives of our customers and communities we serve. It’s one of the joys of leading a community bank – especially one that is small enough to have the personal relationships with customers that we do, while also large enough to make an economic impact for communities, businesses, and families.”
Business Line Results | Culture and Community | Financial Statements