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What Does 'Trust' Do?

Who We Are

SCB Trust Services is the trust department for State Central Bank. State Central Bank is a community bank which was originally started in Keokuk, Iowa in 1858. The Logan family has owned and managed the bank for five generations starting with Judge William Logan, then his grandson, W. A. Logan, his son William Logan, and now his son,W. Archie Logan II. The trust department investments are managed by W. Tyler Logan, another son of William Logan who follows in the footsteps of his father and grandfather in investing for the bank’s trust department.


What We Do

At our core, we provide money management services. These services will generally be set up in one of several different ways:

 

1. A customer will transfer their assets to a trust with State Central Bank as the trustee. As the trustee, we will manage the assets in the trust for the benefit of the persons or entities named in the agreement (for example, the trust can be written to benefit the person who originally owned the property, their children, or even their church). This type of service would be identified as a “Trust” service.

 

2. A customer will transfer assets for us to manage, but keep the ownership of their property in their own name. In this instance, they would name our trust department as their agent for managing the assets transferred. We call this service a “Managed Agency Account.”

 

3. A customer will transfer assets to us to keep track of, but will retain ownership and management of the assets for themselves. We are basically just holding the assets for the customer, keeping track of them and providing regular reporting to the customer. As part of this service, we follow-up on stock splits,corporate buyouts, and class action suits to be sure the customer’s interests are protected. We call this our “Custody Account.”


Sample Products Offered

Trusts - Charitable, Spendthrift, Irrevocable, Revocable

Agency Accounts - Investment account

Individual Retirement Accounts (IRAs) - Traditional or ROTH; rollovers and transfers available.

Employee Benefit Plans - SEP, SIMPLE, 401ks

Estate Settlement  through an Executorship

Guardianships & Conservatorships

*See descriptions of above products under named sub-pages.


Flexibility & Creativity

These products and services offer some idea of what SCB Trust Services can do for you. If you are unsure if the services above fit your specific needs, SCB Trust Services can offer the flexibility of working with you on a unique program which could accomplish your goals. As a trust department of an FDIC insured bank, we are regulated and examined by the Iowa Dept. of Banking and the FDIC. Assets, however, are not FDIC insured unless deposited in an FDIC insured account.* We are always happy to discuss our services with you and how they might be altered to fit your needs.


Email us at SCBTrust@statecentralbank.com or give us a call at 319-526-3862

We look forward to visiting with you and answering any questions you may have.


*Disclosures: Investments are not insured by the FDIC; are not a deposit or other obligation of the bank and are not guaranteed by the bank; and are subject to investment risk, including the possible loss of the principal amount invested.