W.D. (Bill) Ley purchased the majority interest in FTSB from E.E. Sapp in 1967. From that time until Bill passed away in December of 2000, the bank experienced tremendous growth. During Bill’s ownership, total assets grew from $5.9 million to $102 million.

The bank was sold to the employees in 2004. As part of that sale, an agreement between the bank and Bill’s children – David Ley, Carolyn (Ley) Berkland and Timothy Ley—was reached to establish the Ley Foundation. As part of that agreement, the bank contributed $500,000 over 10 years to the foundation.

The interest earned from the investments to the foundation are made available on an annual basis for grants to community organizations or projects in communities served by the bank. From its inception in 2004, the Ley Foundation has awarded more than $360,000 to organizations and projects in Buffalo Center, Lakota, Britt and Lake Mills in Iowa and Bricelyn in Minnesota.

Grant applications are available at all FTSB offices or click here to apply.

Ley Foundation Board of Directors

The Ley Foundation Board of Directors is responsible for all aspects of the foundation, including awarding grants. The board is comprised of seven members: one member of the Ley family, one bank representative and one member from each of the five communities served by the bank. The current board includes:

• David Ley, Chairman – Lakota, IA
•  James Nelson, Vice President – Britt, IA
•  Jessa Wirth, Secretary/Treasurer/Bank Rep. – Buffalo Center, IA
•  Troy Armstrong, Director – Buffalo Center, IA
•  Myron Boekelman, Director – Lakota, IA
•  Candy Hanna, Director – Lake Mills, IA
•  Kristin Bullerman, Director – Bricelyn, MN

FTSB is proud to have donated to the foundation serving in Bill’s name to ensure his benevolence continues forever.