The Bank Slate


Two Rivers in Iowa to cross $1B of assets via M&A

Two Rivers Financial Group in Burlington, Iowa, has agreed to buy Lee County Bank in West Point, Iowa.

The $972 million-asset Two River did not disclose the price it will pay Lee Capital for the $239 million-asset Lee County Bank. The deal is expected to close in the third quarter. 

Two Rivers and Lee County “are two organizations sharing the same customer-centric banking focus and compatible cultures,” Frank Delaney, Two Rivers’ chairman, said in the release. 

Lee County will operate as a wholly owned subsidiary of Two Rivers. 

Shane Zimmerman will serve as Lee County’s CEO and Michael Culbertson will be the bank’s president.

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