(Laurens)– A local bank is changing hands.
Kris Ausborn, President and CEO of Iowa Trust and Savings Bank in Emmetsburg announced today (Thursday) the purchase of the Laurens location of MetaBank.
The latest acquisition by Iowa Trust and Savings follows its purchase of Cylinder State Bank several years ago.
Iowa Trust has assets of 100.7 million dollars. The bank was founded in 1929 and has remained under the same ownership for 78 years. The Laurens bank represents 12.3 million dollars in deposits.
Ausborn says there will be no staff changes at the Laurens location and says they may actually be adding personnel there based on anticipated growth.
Iowa Trust plans to be in operation at the Laurens location beginning April 16th. Ausborn says they’ll be contacting Laurens-are MetaBank customers prior to that to provide them additional information.
MetaBank is headquartered out of Storm Lake.
