Fortress Bank begins lending in Greater Des Moines
BPC Staff Oct 16, 2019 | 8:30 pm
1 min read time
184 wordsAll Latest News, Banking and Finance, On the Move, Statewide NewsFortress Bank, a Peoria, Ill.-based commercial bank, has launched a loan production office in Greater Des Moines, with plans to begin opening branch banking offices within the next two years. Scott Jarvis, previously market president of Lincoln Savings Bank and most recently a senior vice president with Luana Savings Bank, is leading Fortress’ Central Iowa expansion as Des Moines division manager. The Des Moines loan production office will offer commercial, consumer and mortgage loans as well as agriculture lending. “The amount of new business we put on will dictate how quickly we open the first branch,” Jarvis said. “I’d like to see that happen within two years.” He said he anticipates Fortress Bank eventually operating three to four branches in Greater Des Moines. The bank currently has $440 million in total assets, with branches in Peoria and eight western Illinois locations, along with a Quad Cities branch in Davenport. The bank’s majority owner, Lee Garlach, was a cattle rancher in Jackson Hole, Wyo., and later owned a beer distributorship before buying First State Bank of Illinois, which was renamed Fortress Bank in December 2017.