Northwest Bank announces the purchase of additional branches in Spencer, Algona, Fort Dodge and Estherville, Iowa is complete

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posted 9/24/2012 in Community News

(Spencer, Iowa) Northwest Bank has completed its acquisition of the Bank of America locations in Spencer, Algona, Fort Dodge and Estherville, Iowa, each location will now be known as Northwest Bank. The necessary regulatory approvals have been received; the new banks are looking forward to continuing to serve their surrounding communities.

“The new Northwest Bank locations have a strong presence and, more importantly, a strong commitment to serving our customers,” said Greg Post, President and CEO. “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. 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, Iowa. Northwest Financial Corp., located in Arnolds Park, Iowa is owned by Neal & Dwight Conover and families. Northwest Financial Corp. operates three Charters, Northwest Bank, Spencer, IA, 21 bank locations, First National Bank, Creston, IA, 3 bank locations and First National Bank, Sioux City, IA, 6 locations.

About Northwest Bank

Northwest Bank operates 21 banking locations in Iowa and Nebraska with assets exceeding $1 billion. As a community bank, Northwest Bank services agricultural, business and consumer markets and is one of the area’s leading mortgage lenders. In 2011, Northwest Bank was selected as the Iowa Community/Rural SBA Lender of the Year in Iowa.