Lincoln Savings Bank
Empathy, respect, and hard work. These are the core values of Lincoln Savings Bank, one of Iowa’s oldest banking institutions, and are certainly values that its President and CEO, Steve Tscherter, live by everyday. Born in 1946 in Des Moines, IA, Steve grew up in southeast Iowa before moving with his family to Ankeny. Steve was raised by a single mother, who raised Steve and his siblings by working two or three jobs to keep the family afloat. Steve’s mother worked hard to make sure the family succeeded, and those hard working Iowa values continue to be a big part of Steve’s life today. He graduated from Ankeny High School and went on to pursue a degree in accounting from Drake University. After graduation, Steve worked for the FDIC as a bank examiner for almost eight years, and then took a job as a VP/lender with Iowa State Bank in West Bend, IA. In January of 1979, Steve embarked on a new path when he accepted the position of CEO of Lincoln Savings Bank in Reinbeck, IA. At the time, Lincoln Savings Bank was in serious financial peril, but Steve was drawn to the challenge and the opportunity for leadership, development, and growth.
Over his 33 plus year career with Lincoln Savings Bank, Steve has transformed LSB from a bank that was barely surviving to a now $530 million, Full Service Bank and Member of the Federal Deposit Insurance Corporation. In addition to traditional banking services, Lincoln Savings Bank also offers a full line of insurance products, as well as investment, trust and real estate services. The multi-million dollar financial services company that exists today has 14 banking/financial service locations, one insurance office and two real estate offices.
Steve has not only been a local leader, but he has also been a leader in the banking industry. He is a past board member and President of Community Bankers of Iowa, past board member of the Iowa Bankers Association, past board member and Chair of the Iowa Bankers Mortgage Corporation. Steve has also been active in the community, including board member and charter president for the Gladbrook-Reinbeck Dollars for Scholars, board member and current chair for Reinbeck’s Community Development Board, and current board member for the Greater Cedar Valley Alliance. And Steve makes community a big part of Lincoln Savings Bank. LSB is involved in nearly every community event, and Steve encourages employees to get involved in their community by volunteering. Steve and his wife of over 40 years, Carol, live in Reinbeck. They have four children, Lisa, Alan, Brian, and Aaron, and seven grandchildren.
Having grown from a small, one location agricultural bank that started in 1902 to the diversified financial institution it is now, LSB has enjoyed sustained growth while staying rooted in Iowa values. Steve Tscherter has been an integral part of this growth and success over the past thirty years, and through his hard work and dedication has transformed this once small bank into a thriving full service bank.