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Tuesday, May 3, 2016

Northwest Bank purchase of area Bank of America branches complete

Tuesday, September 25, 2012

Northwest Bank has begun operating out of its new Grand Avenue location in conjunction with the completion of its purchase of several northwest Iowa Bank of America branches.
(Photo by Gabe Licht) [Order this photo]
Northwest Bank has completed its acquisition of the Bank of America locations in Spencer, Algona, Fort Dodge and Estherville. The necessary regulatory approvals have been received and the new banks will continue to serve the surrounding communities.

Each location will now be known as Northwest Bank.

"The new Northwest Bank locations have a strong presence and, more importantly, a strong commitment to serving our customers," Greg Post, president and CEO of Northwest Bank, said. "We are excited about the completion of this acquisition and welcome our new customers and employees to our growing organization. This opportunity supports our strategic plan of growing in the areas that we are familiar with and to continue to provide safe and secure financial products and services."

He continued, "Northwest Bank has local ownership that is truly committed to our customers, employees and supporting the communities we serve. These are the core values that represent Northwest Bank. We feel privileged to expand our presence in the Spencer, Estherville, Algona and Fort Dodge regions and we will work hard to provide banking excellence for our new customers."

First National Bank of Sioux City, a sister bank of Northwest Bank, owned by Northwest Financial Corp., has also acquired a Bank of America branch in Sioux City.

Northwest Financial Corp., located in Arnolds Park, is owned by Neal and Dwight Conover and families. Northwest Financial Corp. operates three charters: Northwest Bank, Spencer, with 21 bank locations; First National Bank, Creston, with three bank locations; and First National Bank, Sioux City, with six locations.

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