Hills Bank and Trust Company
| Company type | Subsidiary |
|---|---|
| Industry | Banking |
| Founded | 1904 |
| Founder | 19 local residents |
| Headquarters | Hills, Iowa , United States |
Area served | Eastern Iowa (4 counties) |
Key people | Lisa Shileny (President and CEO) |
| Products | Banking services, Trust and Wealth Management |
Number of employees | 500 |
| Parent | Hills Bancorporation |
Hills Bank is a community-focused independent bank based in Hills, Iowa. Employing 500 staff members across 19 branches situated in four counties in Eastern Iowa, it holds assets totaling $4.5 billion. It stands as the third-largest bank headquartered within Iowa. Established in 1904, Hills Bank functions as a subsidiary of Hills Bancorporation, which was formed in 1982. Lisa Shileny currently serves as president and CEO. The bank is a member of the FDIC.
Early Years: Hills Savings Bank
On February 15, 1904, 19 local residents founded Hills Savings Bank with an initial capital investment of $10,000 and a modest team. Albert Droll began his career there as a teller in 1921 and later assumed the presidency in 1965.
Throughout the Great Depression—a period that led to the collapse of 600 banks in Iowa, including all five banks located in Iowa City—Hills Savings Bank remained operational, marking a pivotal moment in its history.
Early Years: Hills Bank and Trust Company
In 1934, the institution restructured under the name Hills Bank and Trust Company to better represent its range of services. At that point, its capital stood at $30,000.
A major growth milestone occurred in 1952 with the addition of a new building. Despite Hills’ population being just 211, it boasted the highest per capita banking resources in Iowa, surpassing $3 million.
Hills Bank and Trust Company Expansion
Initially constrained by Iowa banking regulations that allowed branch locations only in adjoining towns, Hills Bank expanded its reach after Hills was annexed by Iowa City in 1979. This enabled the bank to open its first branch beyond Hills—in Iowa City—in 1982, when assets had grown beyond $100 million.
The acquisition of UniBank & Trust in 1984 brought new branches in Coralville and North Liberty into the portfolio. Although the bank faced tragedy in 1985 with the murder of John Hughes—who had planned to relocate the North Liberty branch—it continued to thrive under subsequent leadership.
Dwight Seegmiller took over as president in 1986. By 1990, a fifth branch was established downtown Iowa City. The bank’s expansion extended into Linn and Washington counties through acquisitions and new branch openings during the late 1990s and early 2000s.
To accommodate this growth, a centralized operations center covering 45,000 square feet was constructed in Hills in 2001 for processing loans and deposits.
Between 2002 and 2016, additional offices launched across Cedar Rapids, Marion, Wellman, North Liberty—including specialized Trust and Wealth Management services—University of Iowa campus locations, Washington, and Marion’s second branch.
In 2019, Hills Bank introduced a refreshed brand identity featuring a new logo alongside the tagline “Connection is here.”
December 2024 marked the opening of its inaugural branch within Iowa County at Williamsburg.
AG Month
In 1990, the bank initiated Ag Week to honor the agricultural sector. This celebration evolved by 1996 into an annual Ag Month event featuring baby chicks at each branch as symbols of springtime renewal—a tradition warmly received by both employees and clients.
Flood of 2008
During the summer floods of 2008, Hills Bank’s offices in Cedar Rapids and Iowa City suffered significant impact. Employees and volunteers acted quickly to transfer assets and maintain customer service from temporary sites while repairs were underway. Later that year, the Trust and Wealth Management Division relocated to Coralville’s Grand Rail development.
After restoration efforts concluded, the bank expanded further by opening a new branch in northeast Cedar Rapids in early 2010. At that time, Hills Bank operated fourteen offices across three counties in eastern Iowa and served more than 117,000 customers.