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Midwest Heritage to Acquire Iowa Savings Bank
WEST DES MOINES, Iowa (March 19, 2026) — Midwest Heritage Bank, FSB, a Hy-Vee company, announced today that it has entered into an agreement to acquire Iowa Savings Bank, a community bank headquartered in Carroll, Iowa.
The completion of this acquisition will allow Midwest Heritage to expand its footprint in western Iowa while welcoming Iowa Savings Bank’s four branch locations and 33 employees. The acquisition aligns with Midwest Heritage’s strategic growth strategy and strengthens its commitment to relationship-focused community banking across Iowa and the Midwest.
“For more than a century, Iowa Savings Bank has served its communities with a strong commitment to community engagement, personalized service and local decision-making,” said Tony Kaska, Chairman & CEO, Midwest Heritage. “They are an excellent cultural fit for Midwest Heritage, sharing our values as a community bank and our focus on building long-term relationships with our customers.”
Founded in 1902 in Coon Rapids, Iowa, Iowa Savings Bank provides a full range of banking products and services to personal and commercial customers throughout western Iowa. In addition to traditional banking services, Iowa Savings Bank operates a Trust division which offers fiduciary, estate planning, farm management and trust administration services, further enhancing Midwest Heritage’s ability to deliver comprehensive financial solutions to its customers.
The addition of Trust services further expands Midwest Heritage’s wealth management capabilities. While Midwest Heritage currently offers investment and insurance solutions to help customers grow and protect their assets, the acquisition of Iowa Savings Bank brings additional expertise in estate planning, asset transfer, and legacy management. Together, these services create a more comprehensive and integrated wealth management platform, allowing customers to plan, manage and preserve their financial futures across generations.
“Joining Midwest Heritage allows us to continue serving our customers and communities with the same local focus they expect, while gaining access to additional resources and expanded financial services,” said Bill Hess, Chairman & CEO, Iowa Savings Bank. “We believe this partnership creates new opportunities for our customers, employees, and the communities we serve.”
Midwest Heritage is a full-service financial institution with nine branch locations and nearly 150 employees, offering personal and commercial banking, insurance and investment services.
The transaction is subject to customary regulatory review, approvals and closing conditions.
Midwest Heritage is acquiring Iowa Savings Bank, pending regulatory approval. This brings together two strong, community-focused financial institutions with shared values and a commitment to serving customers and local communities. Together, we’ll have greater resources to support customers, employees and the communities we serve.
The transaction is expected to close in April or May, 2026, pending regulatory approvals.
Iowa Savings Bank (ISB) was founded in 1902 and is based in western Iowa with branches in Carroll, Coon Rapids, Glidden, and Lake City. Like Midwest Heritage, ISB shares a strong commitment to relationship banking, community involvement and exceptional customer service. This acquisition supports long-term growth while preserving our commitment to relationship banking and local decision-making.
It is business as usual. Customers do not need to take any action at this time and should continue to bank as they do today, including:
There are no immediate changes.
There are no immediate changes to your accounts, checks or debit cards. Any future changes related to accounts or services will be communicated clearly and well in advance.
No immediate changes are planned. Customers will be notified well in advance if anything changes in the future.
Yes. Your deposits remain safe and FDIC insured during and after the acquisition.All eligible deposits are insured by the FDIC up to applicable limits, and the acquisition does not impact your FDIC coverage.
Loan terms, rates, and payment schedules remain the same. Customers should continue making payments as they always have.
No. Insurance and fiduciary relationships continue uninterrupted.
No. There are no immediate changes to branch hours or days of operation.
No. There are no plans to close any branch locations. We remain committed to being accessible in your local community.
Yes. You will continue to work with the same bankers, lenders and staff you know and trust. Maintaining strong customer relationships is a priority.
We anticipate merging systems toward the end of June/2026. This should be seamless with no changes for current Midwest Heritage customers.
There will be no immediate changes for Midwest Heritage customers.
Customers will receive updates through multiple channels, which may include:
You will receive plenty of notice before any action is required.
This acquisition allows us to:
Customers should continue contacting their usual banker, branch, or relationship manager. If you have questions, please contact:
Our team is happy to help and committed to keeping you informed.
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