History
Iowa Origins
Bankers Trust Company (BTC) was organized in 1917 by B. F. Kauffman. It opened on June 1 of that same year with 12 employees. After the first day of business, deposits exceeded $485,000 and loans neared $500,000. It was already clear that Bankers Trust Company’s trademark would be to respond to customer needs.
Des Moines Expansion
Bankers Trust started on the southwest corner of Fifth and Walnut in Des Moines. In 1920, the bank’s headquarters moved to Locust Street, where the building was known as the Bankers Trust Building. The bank’s growth accelerated when it consolidated with or purchased the assets of four Des Moines banks:
- Des Moines Bank and Trust Company (1953)
- The Northern Trust (1924)
- Security Trust and Savings Bank (1926)
- Peoples Savings Bank (1928)
The Bank Holiday of 1933
In 1933, when the president ordered U.S. banks to close for an entire week, officers of Bankers Trust looked to the future. They made arrangements with officials in Washington, D.C. to examine the company during the bank holiday. As a result, Bankers Trust was one of the nation’s first banks to reopen when the bank holiday ended, instilling confidence in the financial system and trust from customers.
Ruan Family Ownership
John Ruan II joined the Bankers Trust board of directors in 1960 after acquiring a substantial position in the bank’s stock. He later acquired sole ownership of the bank and was elected chairman of the board in 1965. The bank is now in the third generation of Ruan family ownership, with local, independent ownership a key differentiator for the bank’s success. Bankers Trust’s headquarters have been located in the Ruan Center in downtown Des Moines since its opening in 1975.
Decades of Growth
Bankers Trust reached $1 billion in assets in 2000 and achieved another financial milestone of $5 billion in assets just 19 years later. With a priority on smart growth, the bank continues to grow in Iowa and beyond since.
Expanding to Cedar Rapids
Bankers Trust Company (Cedar Rapids) opened as a newly chartered bank on December 16, 2002. The bank’s 12 initial employees began establishing the Bankers Trust brand in the Corridor. First located on the ground floor of the Town Centre building, Bankers Trust now resides in the CRST Center, maintaining its commitment to downtown Cedar Rapids. In 2007, the bank opened a branch at the busy corner of C Avenue and Blairs Ferry Road in northeast Cedar Rapids. Bankers Trust has now grown to be one of the most visible and vital full-service community banks in Cedar Rapids. It celebrated 20 years of commitment to the Corridor in December 2022.
The Growth of Bankers Trust Arizona
In 2008, a team of seasoned banking professionals in Phoenix united their collective financial expertise to establish Bankers Trust in a new state. The result is Bankers Trust Phoenix, which offers a full range of banking, lending and wealth management services in Arizona. It is now a $1 billion bank, and the Bankers Trust team in Phoenix continues to build upon the bank’s successful business and consumer relationships, consulting services and financial advisory services. In 2024, the bank opened a new location in North Scottsdale with a focus on offering Private Banking and Wealth Management services. This branch offers high-touch and personalized service and brings a fourth Bankers Trust location to the Valley.
Expansion in Omaha
In 2006, Bankers Trust hired a few employees in the Omaha area to assist with the many commercial loan opportunities available in this neighboring Midwest city. A loan production office was then leased in 2008. The loan production steadily grew over time which led to plans for a future branch. In 2025, Bankers Trust opened its first full-service branch in the Omaha area, located on the corner of 192nd and Dodge Street.
