BankIowa earns five-star Bauer Financial rating for 51 consecutive quarters

BankIowa Cedar Rapids
BankIowa's office at 7045 C Avenue NE in Cedar Rapids. CREDIT RICHARD PRATT

BankIowa, based in Cedar Rapids, has earned a five-star rating from Bauer Financial, Inc., for 51 consecutive quarters.

Bauer Financial, one of the nation’s premier bank rating firms, said in a news release that BanklIowa has maintained its financial strength and stability for over a decade.

BankIowa has also earned an “Exceptional Performance Bank” distinction, reserved for those banks that have earned and maintained Bauer’s five-star rating for ten years or longer.

The most recent Bauer Financial rating for BankIowa was assigned in December 2023 based on September 30, 2023, financial data.

“Bauer rates banks based on their overall financial condition,” said Karen Dorway, president of Bauer Financial, “and has been doing so for over 40 years. Bauer does not rate based on how much a bank gives back to its community, but sometimes I wish we could. The employees of community banks, like BankIowa, feel a responsibility to help their community grow and thrive. It gives me great pleasure to acknowledge that a bank that measures its success by the success of its neighbors and friends, does so from such a solid financial foundation.”

BankIowa, founded in 1921, currently has 13 locations in nine Eastern Iowa communities, including Cedar Rapids, Cedar Falls, Independence, Jesup, Lamont, Norway, Marion, Rowley and Waterloo. With over $750 million in assets, BankIowa remains an independent and locally owned bank.

BauerFinancial, Inc. has been analyzing and reporting on the financial condition of the nation’s banking industry since 1983. The company’s ratings and reports are compiled from financial data for the period noted as reported to federal regulators.