First National Bank to become Northwest Bank

minusminustext size

posted 6/3/2013 in Community News

First National Bank to become Northwest Bank

Transition to Increase Lending Capabilities, Products and Services

Spencer, Iowa (May 31, 2013)— Today, Northwest Financial Corporation, one of Iowa’s largest family-owned bank holding companies, announced plans to merge two of its banks into one entity. First National Bank—with offices in Sioux Center, Le Mars and Sioux City, Iowa—will integrate into Northwest Bank, providing additional products, services and banking locations to current First National customers. The expanded organization will be 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.

The transition will provide the operation with new growth opportunities, and allow Northwest Bank to increase lending capabilities and provide new products and services in the former First National Bank service areas. The change will also strengthen the bank’s ability to reinvest into its communities and employees—all under a strong and diverse leadership team.

“This transition has provided our organization with a sustainable model to enhance customer service, banking options and community reinvestment for our customers in the long-term,” said Dwight Conover, Chairman of Northwest Financial Corporation. “We are proud of the relationships we have built in Siouxland and the surrounding areas, and look forward to continuing to serve our customers as Northwest Bank.”

The transition of First National Bank to Northwest Bank will begin immediately, and subject to regulatory approval will occur over the next several months. The transition is expected to be finalized in the 4th quarter of 2013.

“We are committed to providing our customers with a seamless transition,” said Greg Post, President and CEO of Northwest Bank. “Customers will be able to keep banking the same way they always have, and our team will work diligently to ensure that any and all changes are communicated in a timely and appropriate manner. In addition, you will continue to bank with the people you have grown to know and trust and experience the outstanding service you have always received from First National Bank employees.”

###

Northwest Financial Corporation, one of Iowa’s largest family-owned bank holding companies, provides a full range of financial products and services to individuals and businesses through the First National Bank of Creston, First National Bank and Northwest Bank locations throughout Iowa and Eastern Nebraska. For more information on our organization or our individual banks, please visit www.nwfinancialcorp.com.