Bankers Trust

In 1917, while a New York giant of the same name was making waves, B.F. Kauffman organized a different Bankers Trust Company in Des Moines, Iowa. Opening its doors with just 12 employees, the bank established its mission on its very first day, responding to customer needs with a significant volume of deposits and loans. The bank's early journey was marked by steady, deliberate growth. It expanded by consolidating with or acquiring the assets of four other Des Moines banks between 1924 and 1953. This strategy solidified its presence in the local market. A pivotal moment came in the 1960s when John Ruan II, after joining the board, acquired sole ownership of the bank. This transition cemented its future as a family-owned institution, a key differentiator that has now spanned three generations. Under Ruan family ownership, the bank continued its expansion, moving its headquarters into the iconic Ruan Center in downtown Des Moines in 1975. Unlike its New York namesake, which was acquired by Deutsche Bank in 1999 after a series of scandals, the Iowa-based Bankers Trust has remained Iowa's largest privately owned bank, focused on serving its local community.