Orange City, Iowa (OCBTC) — Vogel Bancshares, Inc operating as Iowa State Bank, has announced that they have entered into an agreement under which Vogel Bancshares, Inc Will acquire Melvin Savings Bank from Benz Holding Co. Melvin Savings Bank will be merged with and into Iowa State Bank.
Melvin Savings Bank operates two offices in Melvin and Sibley. The merger will expand Iowa State Bank’s service area in Northwest Iowa.
The merger is anticipated to close during the third quarter of this year, pending the receipt of regulatory approval.
Iowa State Bank is a locally owned financial institution with a rich history in NW Iowa that dates back to 1879. With over $700 million in assets, Iowa State Bank currently has offices located in the communities of Hull, Ireton, Le Mars, Orange City, Paullina, Remsen, Sanborn, and Sheldon. For more information about Iowa State Bank, visit www.iowastatebank.net
Story from our news partner, O’Brien County’s Bell-Times-Courier