GNB Bancorporation is pleased to announce that it is currently in the process of purchasing Delaware Service Corporation, owner of First State Bank, in Manchester, Iowa. Pending regulatory approval, which is expected June 30, 2012, GNB will obtain ownership of First State Bank and merge it into GNB Bank, making it the fourth GNB bank location.
"We're very eager to bring our brand of banking to the Manchester market," states GNB President Bob Johanns. "We pride ourselves on being community-minded and we will continue to support the community, just as First State Bank has for the past 67 years. We support the communities we serve by providing valuable resources to worthy organizations, and hands-on volunteer hours where needed. This will be a large part of our entry into Manchester and we look forward to meeting the people who live and work there."
Joe Wiewel, President of First State Bank adds "This is a great match between our organizations. First State Bank truly values our customer relationships and we recognize that our employees are one of our best assets. I'm pleased to say that GNB Bank holds the same set of beliefs and will continue our long-standing tradition of an empowered and accountable team, personal relationships, and excellent customer service from people you know and trust."
"Although this makes sense for us financially, our primary goal will be to get to know the community and the customers, and to make the transition as seamless as possible," states Kevin Swalley, Chairman and CEO of GNB Bancorporation. "First State Bank and GNB Bank both have a customer-focused culture and a relationship-driven strategy and we are excited about the opportunities in Manchester."
GNB Bank has locations in Grundy Center, Conrad and Marshalltown, and assets of $194 million. It is a full-service bank offering loans and traditional FDIC-insured accounts, as well as trust, insurance, investments and real estate. For additional information, visit gnbbank.com.