Marion County State Bank’s roots had its beginnings through The First National Bank of Harvey, which was organized in 1903.
The First National Bank of Harvey was owned by the A.L. Harvey family for many years. They sold the bank to the Kenneth H. Bean and William L. Bean in the 1920’s.
First National Bank was the only bank of 23 in the county that had opened after the 1933 National Bank Holiday on a 100% basis without any loss to depositors. (Following the bank holiday, only six of the 23 banks in the county reopened).
In 1935, Kenneth Bean voluntarily liquidated his First National Bank of Harvey and secured a new state charter for Marion County State Bank of Pella. The Harvey Bank then became a branch office of the Marion County State Bank until the Harvey office was destroyed by fire.
The bank opened with the motto “Marion County’s Fastest Growing Bank,” and it lived up to its motto. From 1935-1937 its assets doubled. By 1945, its assets had multiplied nine times its starting size.
In 1961, the Bean family sold controlling interest to three Vermeer brothers – Ralph J., Gary J. and Harry G. Vermeer.
In 2000, Marion County Bank continued to remain locally owned when the Vermeer family sold ownership to Pella Financial Group, Inc. Under this new ownership, a group of local investors as well as the bank’s Employee Stock Ownership Plan share ownership.
Marion County Bank remains locally owned and managed today and is still the largest bank headquartered in Marion County. Total assets of $244,465,845 were recorded as of December 31, 2011. Marion County Bank employs 40 staff between its main bank and drive up windmill facilities.