The Bank Slate


Pilot Grove Savings to buy Wayland State Bank in Iowa

Pilot Bancorp in Pilot Grove, Iowa, has agreed to buy Wayland State Bank in Mt. Pleasant, Iowa.

Pilot, the parent of the $835 million-asset Pilot Grove Savings Bank, expects to buy the $126 million-asset Wayland State in the third quarter. The price wasn’t disclosed.

“It is rare to find a bank whose dedication to customer service and traditional banking values mirrors that of Pilot Grove,” Matt Morrison, Pilot Grove’s president and CEO, told the Southwest Iowa Union.

“Our like-minded approach can only serve to produce a seamless transition for both the employees and customers,” Morrison added.

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