(Spencer)—Northwest Financial Corporation has announced plans to merge two of its banks into one entity.
First National Bank, with offices in Sioux Center, Le Mars and Sioux City, will be integrated into Northwest Bank. A news release says the transition will begin immediately and is subject to regulatory approval which is expected to happen over the next several months, with the transition expected to be finalized in the 4th quarter of 2013.
The merger makes Northwest Bank one of the 10 largest banks in Iowa, with $1.3 billion in assets and over $123 million in capital serving 13 of the 19 counties that make up northwest Iowa.
