(West Des Moines)– Liberty Bank has made another deal to sell bank branches in its effort to meet regulators’ demands.
Ames National Corp. is buying a Liberty branch in two north-central Iowa towns: Garner and Klemme.
Randall-Story State Bank, an Ames National affiliate, will acquire $94 million in deposits and $50 million in loans at the two banks.
Terms were not being disclosed. The deal is subject to regulatory approval and is expected to be completed in the second quarter.
Earlier this month, West Des Moines-based Liberty said three Liberty branches and a drive-up location in Spirit Lake and Arnolds Park were being sold to Spencer-based Northwest Bank.
Regulators told Liberty last summer it needed to raise its core capitol ration. The bank suffered loan losses in Florida during the recession.
(From the Associated Press.).
