Iowa's Community Nat'l. expanding

Northwestern Financial Review, Apr 1-Apr 14, 2004

Community National Bancorporation, Waterloo, Iowa, has completed a renovation of its Community National Bank in Waterloo, and agreed to purchase a branch office in Austin, Minn., where it is preparing to open a new bank.

The remodeling at the Waterloo main office upgraded the facilities' upper level for its trust customers. Kirk Gross Company of Waterloo managed the design and remodeling.

"Our trust department has expanded rapidly and we've grown," said Mike Farrell, senior vice president at Community National Bank. "We also moved our accounting staff and this freed up the main lobby for customer services."

The holding company has signed a purchase agreement with Lake Bank Shares, Inc., of Albert Lea, Minn., the parent of Security Bank Minnesota in Albert Lea, to purchase the bank's branch in Austin. The branch will become the main office for Community Bank, a bank that currently is in organization.