President's Message
Brenda Heisch, Vice President, Quad City Bank & Trust, and President of the Iowa Trust Association
 
Let’s celebrate- tax season is behind us!

As many of us come out of April- we have a little more time on our hands. Take this time with your customers to dig a little deeper, get to know them better. Not only in our business, but with life in general- Relationships Matter.

We all know in the trust industry- customers expect exceptional investment management and estate planning advice to help them navigate their financial journey. Our business can be looked at as a commodity. What sets us and our organizations apart from the competition is the relationships we form over time. Listen to what your customers have to say. You may be surprised by what keeps them up at night has little to do with the numbers and more to do with their relationships with family and friends.

And finally- take time for yourself. Always being available to everyone, can be detrimental to your health. If you haven’t already- plan that vacation. It can be far away or close to home. Whatever it looks like, spend time with family and friends and be present in the moment. Disconnect from your computer and phone to charge your own personal battery. Give yourself time away from all the hustle and bustle. You deserve it! 
ITA Fall Conference
October 2-4, West Des Moines
Mark your calendar for the 2023 ITA Fall Conference. The annual event is a great opportunity for trust professionals to learn about emerging trust issues, network with peers from across the state, and visit with vendors. This year's conference will start on Monday with the peer group meeting and then continue on Tuesday and Wednesday. For more information see the ITA website.
Iowa Land Values Update
Peoples Company tracks agricultural auctions across the state of Iowa. From this data, we calculate the average dollar per CSR2 point ($/CSR2) for sales of tracts with greater than 85% tillable land. Additionally, these tracts are largely unimproved or include minimal improvement contribution.

2023 Quarter 1 Auction Data:
Tracts: 253
Acres: 25,247
Average $/Acre: $11,768
Average $/Tillable: $13,695
Average $/CSR2: $177

Auction prices in Iowa are overall remaining steady. Quarter 1 of 2023 saw 253 tracts or 25,247 acres sell, with an average dollar per acre of $11,768, average dollar per tillable of $13,695, and an average dollar per CSR2 of $177. This $/CSR2 average is down 3% from Q4 2022.

There was a slight drop in volume: Q4 2022 sold 357 tracts or 34,039 acres, while Q1 2023 sold 253 tracts or 25,247 acres. However, as compared to this time last year, volume was nearly identical: Q1 2022 sold 234 tracts or 25,503 acres.

Iowa is still seeing some strong sales: Plymouth County had two farms (76.71-acres and 75.99-acres) sell for $24,000 per acre each, and Lyon County had a 80.71-acre cropland farm with a CSR2 of 67.6 sell for $307/CSR2.

Click HERE to view the Land Auction Results for March 2023, average dollar per CSR2 for the past five years, and additional details.
Contribute to the Iowa Trust Association
As a reminder, the Iowa Trust Association welcomes contributors to its quarterly newsletter. If you would like to comment on recent activities in the industry or let us know about an upcoming event that would be of interest to our readers, please feel free to contact Darcy Burnett, at 800-987-7365. Thank you for your interest in our publication and we look forward to hearing from you.

If this message was forwarded to you and you would like to receive the ITA Newsletter, please email Darcy Burnett to subscribe.
Published by Iowa Trust Association.