Spencer, IA (KICD)–Northwest Financial Corporation has announced plans to merge two of its banks into one entity.
First National Bank—with offices in Sioux Center, Le Mars and Sioux City, Iowa—will integrate into Northwest Bank. Senior Vice President of Marketing Tarrel Storey tells KICD News this merger will provide additional products, services and banking locations to current First National customers.
The transition of First National Bank to Northwest Bank will begin immediately, and as subject to regulatory approval which will occur over the next several months. The transition is expected to be finalized in the 4th quarter of 2013.
The expanded organization will be one of the 10 largest banks in Iowa, with $1.3 billion in assets and over $123 million in capital—serving 13 of the 19 counties that make up northwest Iowa.