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Storm Lake Bank Purchases

West Des Moines, IA (AP) — A bank based in northwest Iowa is buying branches.

It was announced Thursday, that Storm Lake based Central Bank has a deal to buy seven branches from Liberty Bank, which is based in West Des Moines.
The terms were not disclosed in Thursday’s announcement.
In July Marion-based City State Bank said it was buying five Liberty branches.  Liberty’s two sales agreements for the 12 branches are subject to regulatory approval. The sales apparently would leave Liberty with one bank office. Federal Deposit Insurance Corp. records say Liberty had 13 locations as of June 30.
Central Bank says it’s buying three Liberty branches in Des Moines, two in West Des Moines and one each in Urbandale and Ankeny. That would give Central Bank 18 branches.