"SHSI Certificate of Recognition"
"Best on the Web"

Encyclopedia Dubuque


"Encyclopedia Dubuque is the online authority for all things Dubuque, written by the people who know the city best.”
Marshall Cohen—researcher and producer, CNN

Affiliated with the Local History Network of the State Historical Society of Iowa, and the Iowa Museum Association.


From Encyclopedia Dubuque
Jump to navigationJump to search
Main office at 1398 Central Avenue. Photo: 2010
Bank. Photo courtesy: Joseph Jacobsmeier

DUBUQUE BANK AND TRUST COMPANY. Dubuque Bank and Trust received its state charter in April 1934. When it opened for business on July 17, 1935, the bank, with accounts insured by the F.D.I.C. for $5000, occupied rooms in the Federal Bank Building at Ninth and Main STREETS. Mabel Miller, the first customer at the location, received the first passbook issued by the bank. In the first six months of operation, Dubuque Bank and Trust received over $1 million in deposits. The first passbook was issued to the Rhomberg Company.


Following the purchase of the Federal Bank Building by Amtas Company, a company owned by AMERICAN TRUST AND SAVINGS BANK, Dubuque Bank and Trust moved on July 17, 1944, to the former location of UNION TRUST AND SAVINGS BANK at 14th and Central.

Advertisement from 1962. Photo courtesy: Telegraph Herald

In August 1981, Heartland Bancorp, the holding company of Dubuque Bank and Trust, was formed. In May 1991, the name Heartland Bancorp was changed to HEARTLAND FINANCIAL USA, INC.

Photo courtesy: Bob Reding

In November 1988, officials of Dubuque Bank and Trust announced the acquisition of KEY CITY BANK AND TRUST COMPANY stock from the parent company, Banks of Iowa based in Des Moines. Key City operated at two locations in Dubuque and one in Epworth. In January 1990, the Farley State Bank was acquired with branches in Farley and Holy Cross. The acquisition of Galena State Bank by Heartland Financial in January 1992, made Heartland a two-bank holding company and the first Iowa bank holding company to purchase an Illinois bank. In 1988 Dubuque Bank and Trust received local attention for having what was believed to be Dubuque's only "talking" automatic teller machine at its Key West branch.

Token celebrating the bank's 30th anniversary. Photo courtesy: Bob Reding

The bank, which has always been rated one of the top banks by the Sheskunoff Information Services, received national attention in October 1988, when it was named one of the 175 safest banks in the United States by Money magazine. Banks given "superstar status" by the magazine tended to be smaller than the nation's largest banks, located outside major urban centers, conservatively operated, and were not likely to compete for interest rates. Dubuque Bank and Trust, with assets in 1991 in excess of $353 million, was the largest bank in Dubuque. In November 1991, it was announced that through its farm loan portfolio, Dubuque Bank and Trust had become one of the top 100 largest agricultural banks in the United States.

1956 bank magazine.

In January 1990 Dubuque Bank and Trust announced their completed purchase of a row of vacant buildings along Central Avenue south of the main bank building. The structures were demolished in preparation for construction of an addition to the main bank. (1) The bank also purchased the former Walsh Store across the street and with great attention to detail returned it to its former appearance and used the building for offices.

In May, 2018 Dubuque Bank and Trust announced that it would sell its bank building in East Dubuque, Illinois to the city. The building would then be renovated for a new city hall. (2)

Significant events in the history of Dubuque Bank and Trust Company:

1960 DB&T opened its Drive-Up Bank at 14th and Iowa STREETS

1965 DB&T was the first bank in Dubuque to use IBM's electronic bank data-processing

1968 DB&T opened the Kennedy Mall office

1970 DB&T opened an office at 500 North Grandview Avenue

1974 Sherrill (Iowa) office opened (closed in 1986)

1988 DB&T opened an "integral office facility" in the east concourse of KENNEDY MALL(closed in 1990)

1988 DB&T acquired Fireside Credit which became Citizens Finance at 1275 Main Street

1989 DB&T acquired KEY CITY BANK AND TRUST COMPANY. Key City is merged into DB&T giving the bank three new office locations at 1275 Main, 3425 Kennedy Circle and Epworth

1991 DB&T acquired Farley State Bank and merged it into DB&T, acquiring offices in Farley and Holy Cross

1995 a 32,000-square-foot addition is constructed at the main bank

1996 DB&T launched its website--www.dubuquebank.com

2000 Drive-Up Bank is rebuilt

2003 DB&T opened a temporary office at Asbury Road and the NORTHWEST ARTERIAL, the Kennedy Circle office is closed

2004 DB&T support teams are moved into the restored Walsh Store building across from the main bank

2004 a permanent office is opened at Asbury Road and the Northwest Arterial

2008 DB&T reached $1.1 billion in assets and had more than 200 employees and nine offices

2008 The Iowa Finance Authority recognized DB&T with the Top Banker Award

2009 DB&T was the first bank in the nation to see a Refi Plus loan to Fannie Mae

2009 DB&T earned a Beginning Farmer Loan Bank of the Year Award from the Iowa Agricultural Development Authority.

2009 DB&T unveiled its new logo

2010 DB&T celebrated its 75th anniversary and status among Iowa's ten largest banking institutions.

In 2017 bank employees donated over 7,200 hours to assist local organizations. Annually the bank provided eight hours of paid time off to allow each employee to volunteer for a non-profit. In 2018 Dubuque Bank & Trust officials announced its Community Giving Program linking volunteers with local nonprofit organizations. Local organizations could visit Dubuque bank.com/giving to apply for assistance. Those organizations signing up before August 1st, could apply for competitive mini-grants. (3)

Citing changes in "consumer behavior," Dubuque Bank and Trust officials announced the closing of branches in Epworth and Holy Cross in February, 2019. The two branches had a combined workforce of five employees who were given opportunities to apply for other positions at the bank or Heartland Financial USA. (4)

The 1987 through 1989 Dubuque City Directory listed 1398 Central, KENNEDY MALL, Grandview and Delhi, 8th and Town Clock Plaza, Key West.



1. Webber, Steve. "DB&T to Raze Buildings," Telegraph Herald, May 21, 1991, p. 3A

2. Jacobson, Ben. "ED Bank Will Become New City Hall," Telegraph Herald, May 25, 2018, p. 1A

3. "Dubuque Bank and Trust Introduces Grant Program," Telegraph Herald, July 23, 2018, p. 3A

4. Montgomery, Jeff, "DB&T to Close 2 Small-Town Branches," Telegraph Herald, February 2, 2019, p. 3A