Fidelity Bank & Trust in Dubuque, Iowa, has applied to buy Frost State Bank in Frost, Minn., and State Savings Bank in Rake, Iowa.
The $2 billion-asset Fidelity submitted applications with the Federal Deposit Insurance Corp. on Sept. 22 to buy the $53.4 million-asset Frost and the $80.5 million-asset State Savings.
The prices were not disclosed.