Arnold Charles Schultz

Arnold “Arnie” Schultz, 92, of Grundy Center, passed away Thursday, December 1, 2022, in the care of Creekside Living. A visitation will be held Monday, December 12, 2022, from 10:00 a.m. to 11:00 a.m. at American Lutheran Church in Grundy Center, with a memorial service to follow at 11:00 a.m. Full military honors will take place after the memorial service. Memorials may be directed to the GC Hospital Foundation, Cedar Valley Hospice, or American Lutheran Church.

Born March 24, 1930, to Martin Louis Schultz and Esther Louise (Behrens) Schultz on a farm in Pilot Township, IA, near Williamsburg, they moved to Garrison, IA, and then to Deep River, IA, on a farm. He attended country school and St. John’s Lutheran School and graduated from Deep River High School in 1948. He attended Drake University on a basketball scholarship and graduated in 1952. He won 3 letters in basketball and baseball.

At the suggestion of his athletic director, he joined the Naval Reserve on September of 1948 as a seaman recruit and retired as a CDR in 1979.

He married his high school sweetheart and love of his life, Imogene Marie Roberts, on June 8, 1952, and shortly after he went to active duty with the Navy as a Naval Officer. He served the USS Kermit Roosevelt (ARG IL) during the Korean War has a gunnery officer and communications officer. He was also the CO of surface division 9-60 Waterloo, IA.

After service, he was county Farm Bureau fieldman in Adams and Grundy County. He also served as a sales rep for State Bond and Mortgage in 1958. He joined the Grundy National Bank in 1959 as a loan officer and farm manager. He was promoted to president and CEO in 1972 until 1999. He was also chair and president of GNB Bancorporation, a 2-bank holding company.

He was active in banking activities, past president of IA Independent Banker Association, Treasurer of ICBA, and member of the executive committee; he served 3 terms on the 7^th Federal Reserve District Board of directors, and many other active boards.

He was also involved in community activities; member of the board of commissions of MCH from 1990-97, past president of the Board of Education GCSD, past president of the GC Independent Corporation, GC Chamber of Commerce, and Rotary Club.

He won many awards: citizen of the year in 1990, in 1983 received the coveted Double D award given to former Drake athletes for distinguished service, and in 2017 he received the 8 Over 80 Legacy Award.

Arnie is survived by his wife, Imogene; 2 children, Teresa (Rick) Petersen and Jan Pederson; daughter-in-law Jennifer Schultz; 7 grandchildren; 2 step-grandchildren; 14 great-grandchildren; and 3 step-great-grandchildren. He was preceded in death by his parents Louis and Esther; brother Louis Schultz; sister-in-law Jean Schultz; sister Rosemary and her husband Gary; and son Bob.