From a “community” idea...
The idea of Community Bank originated one afternoon in February 1972. Jim McDonald, Jerry Case and Marlow Jacobsen conceived the idea of a bank “owned and operated by the people of the community” to meet the needs of the community: a bank that would understand the philosophy of the small businessman or farmer trying to borrow money to get started. Eighteen grueling months later the original three-man committee expanded to six people. George Eicher, Jim Bassage, and Betsy Conley Smith were invited to contribute their business expertise.
There were several complicated steps in the process of starting a bank. In order to make application for a state chartered bank, you had to have a President, a Cashier, Directors, one of whom must have experience as a Director, and property on which to build your facility. The committee of six purchased the 6-½ acre tract of vacant land at 157 Avenue and 288 Street.
Thanks to the generosity of the McDonald family, the organizational work and preparation of documentation was being done in the dining room of the McDonald home. Their dining room served as the first Community Bank of Homestead office for approximately nine months.