First National Bank in Creston Announces the Purchase of Century Bank in Shenandoah
on Friday, November 22, 2019
CRESTON – First National Bank in Creston announced today it has entered into an Agreement to purchase Century Bank, located in Shenandoah, Iowa. The purchase is subject to regulatory approval.
First National Bank intends to complete the purchase by Friday, April 17, 2020. Prior to that date, Century Bank customers will receive a letter providing additional details concerning their accounts and are encouraged to look further at www.fnbcreston.com to learn more about First National Bank.
“This acquisition opportunity supports our strategic plan of growing in an area that we are familiar with and we’re excited to add the vibrant Shenandoah community and our innovative, safe and secure financial products and services to the Century Bank customers,” said Randy Huewe, president and CEO at First National Bank. “We are truly committed to our customers, our employees and supporting the communities we serve. We look forward to furthering our presence in southwest Iowa, and we will work hard to provide banking excellence for our new customers, support for our new Community along with a rewarding and engaging work environment for our new Team Members.”
Greg Ritchey, president of Century Bank, said he’s excited about this next chapter as both banks are united by a common banking and community-minded philosophy.
“This acquisition by First National Bank of Creston also allows our Bank to benefit from the resources of a much larger organization while maintaining the same staff, local decision making and understanding of the community that has helped make our bank successful for more than 100 years in Shenandoah,” Ritchey said.
First National Bank in Creston was chartered in 1871 and is a family-owned, full service community bank that specializes in commercial, ag and personal banking.
First National Bank is part of Northwest Financial Corp. that is owned by brothers Neal and Dwight Conover and their families. Northwest Financial Corp. is a two bank, privately-owned financial services holding company.
The banks include Northwest Bank of Spencer, Iowa and First National Bank in Creston. The two banks collectively hold close to $2.0 billion in assets and have 23 offices throughout western Iowa and eastern Nebraska. Other entities within Northwest Financial Corp. include Northwest Wealth Management, LLC and Northwest Insurance Services.