Testimonial
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Precision Optical Group started out as a two-man operation in Creston in 1992. President and Co-Founder, Mike Tamerius shares his memory of walking into Iowa State Savings Bank with an idea and request for their first business loan.
"When we started our business, we were two 23-year-olds with a fishing boat and motorcycle for collateral. We sat down with Iowa State Savings Bank and pitched our idea. We were likely the smallest loan by far in the bank. Other banks probably wouldn’t have messed with a loan that small. Instead, the most unique part of Iowa State Savings Bank, and one I really appreciate now is the business training they provided.
They spent a tremendous amount of time with us early on. They told us that if we were going to do this business, we were going to do it right. Each month, we met with the bank and reviewed financial statements for an hour or two. It’s tough to start a business. It certainly would have been a lot tougher if we tried to figure it out on our own. Our relationship with Iowa State Savings Bank is really what sustained us through a lot of ups and downs.
When working with Iowa State Savings Bank, you’re going to build a relationship with your lender. They go beyond the idea of just covering your loan. The relationship we have at the bank has paid us a lot more than we’re ever going to pay them in interest. It’s not about the cheapest rate you can get, it’s about the relationship you build.
Your banker is an important person in your equation to be successful, you can’t do it without them. You need a banker that doesn’t sugar coat things and tell you it’s going to be ok. Your banker has to be upfront and honest and that’s what Iowa State Savings Bank has been for us. To this day, it’s always nice to have them as a sounding board. They help us make good sound decisions and not decisions based just on emotions.
Iowa State Savings Bank has the financial resources to back their local decisions. As part of Ames National Corporation, they have a big company behind local decision making and I think that is a great concept. As we continued to grow and expand outside of our area, we’ve came back to the bank over and over again and it’s because of the relationship.” - Mike Tamerius, President & Co-Founder of Precision Optical Group
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