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JULY 12, 2019 • Midlands Business Journal
Availa Bank bolsters its assets with additional markets in Iowa Continued from page 1. Availa Bank to over $1 billion.” The Gronstal family’s banking and western Iowa roots run deep; in 1949, Gronstal’s grandfather, B.A. Gronstal, acquired majority interest in the former German Bank (the bank became Carroll County State Bank during World War I). “At the time, B.A. Gronstal was living in Council Bluffs and was president of the orig-
Availa Bank Phone: 712-322-1700 (downtown); 712322-3300 (mall) Address: 117 Pearl Street, Council Bluffs 51503; 1751 Madison Avenue, Council Bluffs 51503 Services: personal and business banking; loans (mortgage, consumer, commercial/ ag) Founded: 1870 (as German Bank of Carroll County, then Carroll County State Bank) Employees: around 150 Website: www.availa.bank
inal Council Bluffs Savings Bank,” Gronstal said. “After this acquisition, my uncles Joe Gronstal and John Gronstal moved to Carroll, Iowa to run Carroll County State Bank.” Gronstal’s father, Phill Gronstal, remained in Council Bluffs and was an executive at the former First Federal Savings and Loan, while Gronstal’s uncle, Paul, also remained in Council Bluffs and was an executive at the former Council Bluffs Savings Bank. “All four of the brothers were once members of the board of directors of Carroll County State Bank,” he said. “Today the ownership is
still controlled by the Gronstal family.” Bank and holding company board members remain “in the family,” including Matt Gronstal, his mother, Rosemary Gronstal-Faulkner, and cousins — Tom, Carol and Robert Gronstal. “Over the years, new banks were opened or acquired by our holding company in the western Iowa communities of Pocahontas, Fort Dodge, Nevada, Holstein, Coon Rapids [and others],” Gronstal said. “These banks all operated under different names. This became inefficient and confusing as we continued to grow.” While he noted the board decided to continue expansion in southwest Iowa, in order to do so it was decided to operate under one name. “In 2017, we decided to merge all of the banks owned by our holding company to one charter and one common name,” Gronstal said. “Availa Bank was formed when Council Bluffs Savings Bank, Carroll County State Bank, Community Bank of Nevada, and Citizens State Bank of Pocahontas and Fort Dodge
were all merged into one entity.” Gronstal indicated it’s a balance that has enabled Availa Bank to grow to around $900 million in total assets, with $1 billion on the horizon. “Our structure within Availa Bank allows us to offer the personal service of a smaller community bank, yet we have the financial resources and technology that you would expect of a much larger financial institution,” he said. Specific to the metro area, Gronstal noted the bank opened in Council Bluffs in 2003 — originally as Council Bluffs Savings Bank (under the Carroll County Bancshares, Inc. holding company). “We have seen tremendous growth since 2003 and today we have approximately $175 million in total deposits in Council Bluffs,” he said. Furthermore, what started as a temporary facility near Mall of the Bluffs blossomed into a permanent facility near the mall in 2004. “We soon outgrew this location and began looking at options for a second location,” he
said. “In 2008, we opened our new downtown office on Pearl Street.” Across the street to the east of Bayliss Park, readers may recognize the space as the former home of the Daily Nonpareil. “The building was completely renovated on the inside while retaining the historic nature of the exterior of the building,” he said. “We felt it was a great way to salvage a historic building in downtown Council Bluffs while also serving a functional use as our bank facility.” The bank employs 25 people in Council Bluffs. “Employees in Council Bluffs are actively involved in many organizations including the chamber of commerce, the Iowa West Foundation, the YMCA, the Historic General Dodge House, Mercy Hospital, Jennie Edmundson Hospital, Union Pacific Railroad Museum … being active in our community is important because we are all working towards the same goal: to make our community a better place to work and live,” he said.
Nox-Crete increases sales by stressing complementary products Continued from page 1. emphasis on developing and implementing the company’s strategic vision and adapting as the industry and customers’ needs continue to evolve. Reid, a native of Amarillo, Texas who came to Omaha with both an undergraduate degree in accounting and an MBA from Texas Tech, said a 25-year female CEO mentor sent her off with a brief reference that she’s unlikely to forget: “She’ll earn whatever you pay her!”
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While Nox-Crete’s annual sales have in- products, it has expanded its product line to creased on-average 15% in each of the past 10 include tilt-up cure and bondbreakers, liquid years, Reid said the impact of the system-ap- floor handlers, joint fillers, curing and sealing proach of bringing accessory products to the compounds, and water repellents, among others. A third chemist was added to Nox-Crete’s firm’s customer base has resulted in sales projeclab last year. A lab mantions exceeding goals ager oversees the work by 10% this year. If Nox-Crete of the three. the success continues, Phone: 402-341-2080 “We always want to numbers at year’s end Address: 1444 S. 20th St., Omaha 68108 be on the cutting edge could reach 20 to 25%. Founded: 1956 by Carl Linn of product developThat’s good for the Service/product: chemical solutions for ment,” Reid said. executive team of five concrete problems “Where I’m strong that Reid heads. Owners: employee stock ownership is where my company “We’re continuing Number of employees: 50 needs me,” Reid said. to look for creating One-year goal: Expand sales of comple“We’re small enough product suggestions mentary products to customer base. to be nimble and adapt that can be useful to our Industry outlook: Strong growth opportuto the needs of our cuscustomers,” Reid said. nities because of continued use of concrete tomers.” Nox-Crete’s foun- architecturally and decoratively. Nox-Crete operdation was built in the Website: www.nox-crete.com ates with two shifts. A 1950s when its founder Carl Linn introduced the world’s first chemically fourth marketing manager was added last year active release form agent. That came about after to specialize in flooring systems. Rhea Gross Linn noticed that concrete contractors were was recently hired as accounting/administrative using the company’s oil and grease compounds manager. In addition to sales in the U.S., products to prevent fresh concrete from bonding to forms. He found the oil and grease compounds difficult from Omaha are distributed globally in about to work with, and the resulting concrete was 20 countries. Users tend to be in first and secdiscolored and unpaintable. Plywood items also ond world countries where there is concrete construction. Of the 35% of products exported, suffered, failing after a few pours. While concrete workers had been struggling a large amount goes to Canada, along with with such issues for years, Linn decided to New Zealand, Australia and the Scandinavian develop a chemically active release agent — countries. As the use of concrete increases in India, so Nox-Crete Form Coating — and a chemically active form maintenance product — Nox-Crete does the number of shipments. Overall, about 20% of Nox-Crete’s products Deactivator. The form-coater enabled contractors to pro- are shipped to plywood mills, where they are duce concrete that looked better and wood forms applied as a wood treatment at the mill. “We have hundreds of SKUs here,” Reid that lasted longer and the deactivator concrete buildup could be safely and easily removed from said. “Our products have gotten more sophisticated and now there are more options that the tools and equipment. In 1959 the Federal Highway Adminis- design-builder can take to the customer.” Prior to her move to Omaha, Reid served as tration approved the form coating for use on bridges being built nationally by the Eisenhower financial controller for Advanta US in Dallas, administration as part of what was to become vice president of business development and administration for American Star Energy & the Interstate highway system. “Our success continues to come from the Minerals in Amarillo, and accounting manager superiority and quality of our products,” Reid at McCleskey Harriger Brazill & Graf in Lubsaid. “What differentiates us is that we continue bock, Texas. Former Nox-Crete president Mike Linn is to innovate on behalf of our customers.” While Nox-Crete continues to manufac- now CEO of the firm and will assist Reid as she ture its original form coating and deactivator takes on additional responsibilities.