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- MidWest Financial,a leading provider of wealth management services based in Des Moines,and Iowa State Bank,a prominent community bank with branches across central Iowa,announced a definitive merger agreement today.
- Under the terms of the agreement, Iowa State Bank shareholders will receive 0.75 shares of MidWest Financial common stock for each share of Iowa State Bank stock they...
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MidWest Financial and Iowa State Bank Announce Merger,Creating Regional Powerhouse
Published August 29,2025,at 04:06:59 AM CDT
Deal Overview
MidWest Financial,a leading provider of wealth management services based in Des Moines,and Iowa State Bank,a prominent community bank with branches across central Iowa,announced a definitive merger agreement today. The combined entity, to be named “MidState Financial Group,” will boast over $5 billion in assets and a network of 60 branches, solidifying its position as a major financial institution in the Midwest.
Financial Terms of the Agreement
Under the terms of the agreement, Iowa State Bank shareholders will receive 0.75 shares of MidWest Financial common stock for each share of Iowa State Bank stock they own. This values Iowa State bank at approximately $180 million. The transaction is subject to customary closing conditions, including regulatory approvals and shareholder votes.
| Metric | MidWest Financial (Pre-Merger) | Iowa state Bank (Pre-merger) | MidState Financial Group (Pro Forma) |
|---|---|---|---|
| Total Assets | $3.2 Billion | $1.8 Billion | $5.0 Billion |
| Number of Branches | 35 | 25 | 60 |
| Total Deposits | $2.5 Billion | $1.5 Billion | $4.0 Billion |