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Rippey, Iowa First National Bank Sold to Claus Loof, August, 1944

Claus Loof, president of the Peoples Trust & Savings bank of Grand Junction, purchased the interests in the First National bank of Rippey from the late John H. VanScoy, former cashier, and I. J Burk, both of Rippey, and the McCammon interests of Perry, thus acquiring substantially more than the majority of the outstanding stock, August, 1944.

First National interest bought by Claus Loof, 1944

Jefferson Bee, August 29, 1944; Page 1

CLAUS LOOF BUYS MAJOR INTEREST IN RIPPEY BANK

A business transaction was recently negotiated whereby Claus Loof, president of the Peoples Trust & Savings bank of Grand Junction, purchased the interests in the First National bank of Rippey from the late John H. VanScoy, former cashier, and I. J Burk, both of Rippey, and the McCammon interests of Perry, thus acquiring substantially more than the majority of the outstanding stock.

At the recent board of directors meeting, Mr. Loof was elected as member of the Board and also elected as vice president to fill the vacancy of I. J. Burk. B. M. Riley will remain as president of the bank and also a member of its board of directors.

Clark Bardole, who has been actively employed by, the bank for the past fourteen, years, was promoted to cashier and is active one in charge. He also remains as a member of the board.

Mr. Loof states that the First National bank will continue to be operated on the same sound conservative basis as heretofore and assures its many customers of the same banking facilities as they procured under the able and highly respected Mr. VanScoy.

The First National bank of Rippey is the only national bank left in the county and is one of the older institutions, its charter being dated in 1905.