Two Iowa banks finish branch sale
Northwestern Financial Review, Nov 15, 2001
Community National Bancorp of Waterloo, Iowa is buying the Gateway Savings branch in Mason City from Northwest Financial Corp., of Spencer.
Northwest Financial is the parent of Gateway Savings. Community National Bank will merge the purchased branch office into its existing branch offices in Mason City, Iowa.
"Community National Bank already has a presence in the Mason City area and we feel they will continue to serve the customers in the area very well," said Neal Conover, chairman of the board and chief executive officer of Northwest Financial.
The deal is scheduled to close the first quarter of 2002, pending federal approval.
"Community banking is what we know and do well," said Josef M. Vich, president and CEO of Community National Bank. "We are pleased to be expanding our presence. Mason City is a great community with tremendous potential for the future."
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