TS Banking Group Announces David Spurgeon as VP of TS Ag Finance
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TS Banking Group Announces David Spurgeon as VP of TS Ag Finance

By: Madaline Eblen
Published: 01/19/2015

Treynor, Iowa, January 19, 2016 – TS Banking Group welcomes David Spurgeon as Vice President of TS Ag Finance. Spurgeon will be working out of Polk City, Iowa.

Spurgeon was previously employed for 10 years with Farm Credit Services as a loan officer and an ag financial officer. In addition, Spurgeon also worked as an ag loan officer with Luana Savings Bank for six years.

Spurgeon grew up on a row crop farm in southern Iowa, and later obtained a B.S. in Ag Business from Northwest Missouri State University. Spurgeon and his wife, Andrea, have three boys and a daughter.

About TS Bank and TS Banking Group:

Treynor State Bank was chartered in 1923, branded to TS Bank in 2005, and was the beginnings of the TS BankingGroup. TS Bank is a locally owned, community bank with $288 million in assets. In addition, TS Bank has the largest state chartered C Corp trust department west of Des Moines with nearly $270 million in assets. TS Bank is dedicated to community prosperity and reinvests 10% of their net income back to the community. Branch locations include Treynor, Macedonia, and Council Bluffs, IA. Michael (Mick) K. Guttau is Chairman of the Board and Joshua M. Guttau is CEO and CFO.

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TS Ag Finance recently closed a loan in Minnesota for $1,122,000. The loan proceeds were used to purchase a farm and refinance an existing mortgage. The borrower chose a 15 year reset product with a 20 year term and amortization. The loan rate will be fixed at 4.9% for 15 years at which time it will reset for the remaining 5 years.

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