Twin Cedars Bank started on August 2, 1892 as Bussey Bank and then became State Bank of Bussey in 1931. The bank was started with $15,000 of capital raised by 8 investors including Jesse Bussey who the town is named after.
In 1894, one of the founders (Nathan Schee) built a three-story building where the bank still stands today. This building housed the bank, a grocery store and a lodge hall. Later on, the third story operated as a skating rink and opera house. The Building Burned down on February 29, 1912 and the present brick building was built that summer.
Photos from the Fire:
In 1907, the Bussey Savings Bank was opened and consolidated with State Bank of Bussey on March 27, 1931.
In 1933, the bank experienced one of Iowa’s Boldest Bank Robberies ever perpetrated (as reported by the Knoxville Express)
In 1959 the Lovilia office was established.
On May 1, 1961 the Hanson Family acquired the controlling interest of the bank.
In 2006, the bank expanded into Oskaloosa.
On July 1, 2022 Rudy Fors acquired the bank with his partners and transitioned the name to Twin Cedars Bank. The name pays homage to the bank’s roots in Bussey, IA as there are two cedar creeks that merge together west of Bussey, IA.