Pearl of Muscatine: Scott Ingstad

MUSCATINE, Iowa–Straight out of college, Scott Ingstad eagerly sought his first full-time job. He wanted to work with people and to put his business studies to good use. After talking with a friend who had said despite high unemployment banks continued to hire, Ingstad applied for and accepted his first job at Iowa State Bank in Des Moines.

In 1980, Ingstad heard from one of his old professors that a new bank, Community Bank and Trust had plans to open in Muscatine. Intrigued by the opportunity and happy to return to his hometown, Ingstad took a job at Community Bank and later served as its president from 1982 to 1984.

As Ingstad continued to gain banking experience, he took on a new job at a bank in Kansas City, Missouri. Though far from his home, Ingstad and his family, big Kansas City sports fans, enjoyed the chance to take in some games.

Still, Muscatine’s charm never stopped appealing to Ingstad, and when then First National Bank President George Shepley called him and told him he planned to retire, Ingstad happily agreed to take over for him. Over the years, Ingstad had had many positive interactions with First National Bank. As a kid, Ingstad delivered Shepley’s paper each morning. More recently, Ingstad’s mother had found work at the bank which she enjoyed very much.

Since 1990, Ingstad served as First National Bank’s President and CEO. In that role, he continued to enjoy what he always liked most about banking, working with people. “The people, certainly–that’s what I got into banking for in the first place,” he asserted.

In February 2020, Ingstad announced plans to transition out of his position as First National’s President and CEO while still retaining his roles as chairman of the board and his membership on several committees. As he moves into this next phase of his career, he looks forward to having, “time to spend with my family and my grandkids and to travel more.” Ingstad also anticipates spending time with the friends he has made in the community over the years he has lived in Muscatine.