United Bank of Iowa

PRESS RELEASE

UNITEDBANK OF IOWA EXPANDS TO MARCUS, CLEGHORN AND AURELIA, IOWA

United Bank of Iowa, headquartered in Ida Grove, has reached an agreement to purchase, pending regulatory approval, First Trust & Savings Bank of Marcus, Cleghorn, and Aurelia, Iowa. The expected closing date is August, 2018.

Owen C. Bolte, President and CEO of United Bank of Iowa stated, “With offices in Kingsley, Pierson, Holstein, Galva, and Storm Lake, adding offices in Marcus, Cleghorn and Aurelia is a nice fit for our market. Customers will enjoy the convenience of additional locations and services and can expect the same friendly service they are accustomed to.”

Bolte continued, “As the largest ag bank in Iowa, United Bank of Iowa has a strong commitment to support local farmers, families, and business people while taking an active role in the rural communities it serves.” 

Mark Pingrey, President and CEO of First Trust & Savings Bank, added, “On behalf of First Trust & Savings Bank, we want to thank our loyal customers for the trust they have placed in us for so many years. We are confident United Bank of Iowa will provide the financial products, convenience, and personal service necessary to help our customers reach their financial goals.”

United Bank of Iowa, wholly owned by the holding company, Ida Grove Bancshares, Inc., of Ida Grove, Iowa, has 27 offices serving rural west central Iowa and assets exceeding $1.4 billion.