West Iowa Bank in West Bend has agreed to buy Home State Bank in Royal, Iowa.
The $162.4 million-asset West Iowa Bank said in a press release that the $56.6 million-asset Home State will operate independently after the deal closes. The price wasn’t disclosed.
“This agreement allows us to expand our community banking model into Royal while preserving the relationships and trust Home State Bank has built over generations,” Keith Deitering, West Iowa Bank’s president and CEO, said in the release. “Our organizations share a common culture centered on customers, community involvement and support for rural economies.”