(Spencer)– Northwest Financial Corporation says it will merge two of its banks in southwest Iowa into one entity. The First National Bank in Creston, which also has offices in Afton and Shenandoah, will integrate into northwest Bank.
A press release says the expanded organization will be one of the 10 largest banks in Iowa with $2.95 billion in assets and over $217.8 million in capital.
Officials say the merger is pending federal regulatory approval, which is expected soon. They add the transition is expected to be finalized in May, 2024.
