Security Savings Bank
The Security Savings Bank of McCallsburg, Iowa was organized and incorporated on May 19th, 1917. The incorporators were N. H. Nelson, W. H. Reid, Herman J. Twedt, M. G. Pearson, E. Nordgren, Millard Peck and Andy Thompson all of McCallsburg, Iowa and O. M. Grove and O. S. Boyd of Roland, Iowa.
The stockholders paid in $125.00 per share of stock ($100.00 for stock and $25.00 for surplus) and the bank started doing business on July 17, 1917, with a capital stock of $20000.00 and $5000.00 surplus.
The first officers of the bank were N. H. Nelson, president; O. M. Grove, vice president and Andy Thompson, cashier. W. H. Reid, A. Ray Johnson, Lillie Tvedt, Millard Peck and some others were employed at the bank during its lifetime.
Also there were other stockholders, M. O. Holland,Jacob Hill, A. Ray Johnson, Martin Grove and others.
This bank, like many small banks, found it difficult to operate during the depression. In 1934, the Security Savings Bank, with the permission of the State Banking Department, paid all of its depositors off at the rate of 100 cents on the dollar and ceased operation. N. H. Nelson passed away soon after this was done. Lillie Tvedt, Andy Thompson and the Board of Directors liquidated the remaining assets of the bank and succeeded in paying the stockholders in full for their stock investment. On the 16th day of April, 1938, the Board of Directors dissolved the corporation and surrendered its charter.
Andy Thompson who had managed the insurance business which had been conducted by the bank, took over the insurance business and continued to operate an insurance, farm loan and real estate business in McCallsburg until the business was sold to Gerald Vallem.
Oscar Haukoos of Leland, was among the business-men in his era. He had a cafe, located where the laundromat is now. The Bozie Theatre was located east of the hotel. He also had the dray and transfer line, first with horses and later with a truck. He was also an auctioneer and cried a lot of sales until his hearing got bad.