The Community Bank, Avon SD, originally chartered as the Bank of Kingsburg, Kingsburg, SD opened for business May 20, 1914 with $10,000.00 in capital all being supplied by local citizens and farmers. It was founded by Tom C. Pier who began his banking career as an employee in a Ravinia, SD bank. As the town of Kingsburg withered, Tom moved the bank charter to Avon in 1933. Avon had seen both of its banks close during the depression. Tom Pier was the president of the bank until his death in 1968.
From the beginning, the Community bank has been a family affair. In 1935, Ralph Pier, who had been employed at the American State Bank in Yankton joined his father at Avon, and in 1952 Phillip Pier, another son who had been employed by American State Bank also moved to Avon to help take care of the constantly growing loan and deposit volume. Grandson Richard (Dick) Pier joined the bank in 1957 and William (Bill) Pier joined in 1962. Great-grandson Richard (Rick) and great-granddaughter Sally have also helped carry on the tradition throughout the years.
The Community Bank has come a long way from the inauspicious beginning in Kingsburg. It has been a moving force and stability of the entire community throughout the years. The Bank has been a main contributor towards many varied community developments, including sporting and social construction events. Without their monetary contributions, council and encouragement, the Avon community would be without many of the fine facilities they have today.
As we look forward to our 100th anniversary we will continue to strive to achieve the profitable placement of bank financial services in our Avon community and farm trade area, to meet the banking and financial needs of our local individual customers, our merchants, our school, our city, and our other going Avon concerns.