Midwest Heritage in West Des Moines, Iowa, has agreed to buy Iowa Savings Bank in Carroll.
Jeremy Gosch, chairman and CEO of Hy-Vee Company, disclosed the acquisition of the $290.4 million-asset Iowa Savings in a LinkedIn post. The acquisition would be the first for the $491.6 million-asset Midwest, which is a part of Hy-Vee.
The price wasn’t disclosed.
“Iowa Savings Bank’s relationship-focused approach to banking is a great match for Midwest Heritage’s emphasis on personal service, and we look forward to welcoming their team to our Hy-Vee family,” Gosch wrote in his post.