The beginning of the State Savings Bank in the Taylor County seat of Bedford dates to 1915, when a new bank opened in the nearby town of Sharpsburg. From Sharpsburg, the bank grew with new offices added in Gravity in 1931 and Clearfield in 1935, and then Bedford in 1945. At that time, the bank charter was moved from Sharpsburg to Bedford, and in 1966, the pictured bank building was constructed.
State Savings Bank was the only financial institution in Bedford to survive the 1980s farm crisis. The charter moved again in 1998 to Creston, where a new location was established; today, the Creston, Bedford, and Clearfield offices remain open. The State Savings Bank recently announced a merger with Valley Bank & Trust, which has locations in Cherokee and Marcus in northwest Iowa.