Ipswich State Bank

IpswIch

state Bank

John F. Holdhusen, 1938 investor (tom’s grandfather) and J. stew Holdhusen (tom’s dad).

HISTORY

In the early 1930’s, there were two banks in Ipswich, SD; The Bank of Ipswich and First State Bank of Ipswich. Like many banks in the Dirty Thirties, both experienced a run which led them to become insolvent. The community of Ipswich was without a bank until 1938 when 18 local citizens recognized the need for a community bank, pooled their money together and formed Ipswich State Bank. These folks joined together not because of their professional careers in banking, but because of a common interest they shared within their community; to establish a bank that would support commerce and the local economy, create jobs and nurture the families and businesses in the community. Some hailed from a financial background, while others were general laborers, managers and even a service truck operator. Over eight decades later, the customer-focused values on which the bank was built remain central to the bank’s operations today.

Hands on Learning

For the past thirty-nine years, shirley Williams has been reporting to work at ipswich state Bank. she began working at the family run bank the day after her high school graduation in 1983 as a teller. Her plan was to work there only for a short period of time.

“i come from a family of nine, so there wasn’t a lot of money for college. i decided i would work and save money for a year then go to college. the bank was the perfect opportunity,” said shirley.

throughout her first year working at the bank, shirley quickly realized there were many facets of bank operations. she also discovered her passion for learning the intricate processes of bank operations. With her newfound passion and a hunger to learn, shirley decided working at ipswich state Bank was better than a traditional college education. Working in the bank gave her a hands-on opportunity to learn and succeed in an industry she was truly interested in. From that point forward, shirley committed to challenging herself, mastering the art of the bank and pushing herself to be the best she could be.

“early on, my goal was to learn every position within the bank inside and out, and do it to the best of my ability. the challenge of learning new things was motivating for me,” said shirley.

now, thirty-nine years later, shirley has worked as a teller, bookkeeper, loan processor and now serves as President and CeO of ipswich state Bank. shirley is also a co-owner of the bank. she attributes her successful and fulfilling career to her extraordinary mentor, former president and CeO, dave Williams. dave was a lifelong banker who started at ipswich state Bank in 1983 as a director and loan officer just two weeks after shirley was hired. dave’s father, a bulk fuel truck operator, was one of the eighteen individuals who helped form the bank in 1938. dave and shirley had a unique and special bond, their personalities clicked from day one. He took shirley under his wing and constantly challenged her. dave taught her everything he knew, and always encouraged her to learn how different areas of the bank were run. When shirley had questions, she could always go to him for an answer. dave was her colleague, friend and one of the best people shirley has ever known. to this day, shirley has a tremendous amount of respect and gratitude for him. “i wouldn’t be where i am today without his patience and guidance,” said shirley.

shirley isn’t the only individual within the bank to have a tremendous amount of respect towards dave. He was known by all staff members and customers as being very intelligent, fair and easy to talk with. He had a knack for encouraging and inspiring anyone who wanted to better themselves or their situation. in a time when most businesses around the country are struggling with labor shortages, shirley recognizes how fortunate ipswich state Bank is to have a team of loyal and committed employees who have been influenced and trained by dave and the other extraordinary leaders within the bank.

“dave helped build a positive and inviting work culture that has, to this day, contributed to our low turnover and the happiness of our employees. We are fortunate to have one employee who has been with us for over forty years. Others who are considered our ‘newbies’ have been with us for six years. that is saying something,” said shirley.

shirley Williams, President and CeO of ipswich state Bank

the ipswich state Bank includes: robbie Williams, deb davis, Jamie stiles, Judy steen, glady rohrbach, tammy Pitz, deb gillick, shirley Williams. (glady has been the custodian for 60 years!) tom Holdhusen

dave Williams was part of ipswich state Bank from 1983 until his retirement in 2020. even after his retirement, dave was notorious for stopping by the bank to offer his helping hand.

IpswIch state Bank

robbie Williams, shirley’s son, currently serves as Vice President of the bank. With a strong background in agriculture and banking, robbie built up tremendous credibility with customers. this will serve him well one day when he assumes the role of bank President.

Customers First

From her first day on the job at the age of eighteen, shirley was taught the importance of having a “customer first” attitude and that always finding a way to help her customers was a way of life. dave and former bank owner, tom Holdhusen, would frequently tell shirley and the other staff members, “the customer is our business, taking care of them is our number one job. Without the customer, we would not be here. We depend on them, as much as they depend on us.” these words of wisdom were lived out by the generations of bankers who came before dave and tom. now, long after their departure from the bank, their words live on and are being passed down to the next generation of community bankers.

For ipswich state Bank, their staff’s commitment to customer satisfaction is what makes them unique and has contributed to their success through the years. For this reason, it is a key part of their succession planning as they train in the next generation.

“everyone in the bank is an expert in their role. We all understand no one role is more important than another. each person and their responsibilities are vital to the success and longevity of the bank and we all take this very seriously,” explained shirley.

The Next Generation

in order to ensure a smooth and seamless transition from one generation of management to the next, ipswich state Bank wastes no time recruiting the next group of bankers and onboarding them within the bank. in fact, shirley’s successor, robbie Williams, has already been with the bank for ten years. For the management team, bringing up future bankers slowly and over an extended period of time has proven to be critical in passing down the “customer first” attitude. ideally, they begin the onboarding process five to seven years prior which allows for adequate hands-on learning time.

“robbie has the formal education, but needed the hands-on education. a classroom setting can’t teach the variety of ways we assist our customers and put their needs first, how we process loans and manage specific operations within the bank,” said shirley.

robbie, shirley’s son, pursued his undergraduate degrees in banking and finance at northern state University. Like his mother, he has spent the last ten years mastering the ins and outs of every facet of the bank. shirley will pass down everything she has learned to her son robbie, just as dave did with her continuing the “customer first” attitude.

tate Bank

“Ipswich State Bank has been open for business for nearly eight decades, and through the years their commitment to customers and the community has not wavered. This commitment and the respected reputation that comes along with it is a true testament to the individuals who have had a formative hand in the bank throughout the years.”

Community Involvement

Mastering the “customer first” attitude within the bank isn’t the only thing the next generation will be responsible for. it will be up to them to continue the bank’s longstanding reputation and tradition for community support and involvement. Whether they’re looking for financial advice, a monetary donation or volunteers, community members know they can go to employees of ipswich state Bank and be taken care of. through the years, ipswich state Bank has played a key role in supporting the town’s annual celebration, ipswich trail days. notorious for its bull and bronc riding event and concert, the celebration attracts people from out of town and is a good boost for the local economy.

“it is the best weekend for the community and businesses. it takes a lot to manage the event and keep it going, we’re proud to be part of it,” said shirley.

ipswich state Bank has been open for business for nearly eight decades, and through the years their commitment to customers and the community has not wavered. this commitment and the respected reputation that comes along with it is a true testament to the individuals who have had a formative hand in the bank throughout the years. From the eighteen individuals who started the bank in 1938, to the seven current owners now, excellence is being passed down from generation to generation.