Bank Midwest in Iowa reportedly closing its digital OnePlace Bank

Bank Midwest in Spirit Lake, Iowa, has decided to shut down its digital bank division.

Keith Sexe, who was vice president of OnePlace Bank, disclosed the $1.3 billion-asset bank’s decision in a LinkedIn post.

“While it wasn’t the outcome I expected, I’m incredibly proud of what we accomplished, and deeply grateful to Bank Midwest for the opportunity,” he wrote in the post.

“Together, we launched innovative commercial products, built a full end-to-end tech stack from scratch, and delivered a modern, customer-first experience, all with a small but mighty team,” he added. “This experience stretched my leadership, sharpened my strategic thinking, and reaffirmed my passion for building meaningful, forward-looking financial solutions.”