Local

Photo: KICD AM

Rembrandt Buying Northwest Bank

Spirit Lake, IA (KICD) – A buyer for the Spirit Lake  Northwest Bank building has been found.

On Friday, Northwest Bank announced that they have entered into a contingent agreement with Rembrandt Enterprises, Inc. to sell their property located at 802 Lake Street in downtown Spirit Lake.

Joe Conover, Lakes Market President for Northwest Bank said, “I couldn’t be happier to announce this agreement. Rembrandt Enterprises is a company with a very bright future and their community partnership will bring value to our community.”

Rembrandt Enterprises, Inc. plans to bring 70 jobs to the downtown location. Their current plans are to use a portion of the main floor and the entire second floor. This will require significant restoration to the exterior and interior.

Dave Rettig, Co-Owner and President of Rembrandt Enterprises, Inc. commented, “We are excited to be working with Northwest Bank on the opportunity to move our headquarters to downtown Spirit Lake.  The building will allow us an opportunity to grow our business by providing an inviting environment for our current and future employees.”

Rembrandt Enterprises, Inc. is a worldwide leader in the production and processing of egg products. Since their inception in 2000, they have invested millions of dollars in the Lakes Corridor area. They are one of the leading job creators in northwest Iowa having added over 470 jobs to the Iowa Lakes Corridor region since 2000.

In the coming months Northwest Bank and Rembrandt Enterprises will be working with the city of Spirit Lake on the details of this move. The purchase agreement is contingent on reserving sufficient employee parking for Rembrandt and the use of an existing downtown revitalization program.