Great Western completes acquisition of First Federal Savings Bank of Iowa
Monday, June 25, 2012 2:22 PM
Great Western Bank has completed the acquisition of First Federal Savings Bank of Iowa. Shareholders of First Federal's holding company, North Central Bancshares Inc., will receive $41.5 million. Great Western is a regional bank with headquarters in Sioux Falls, S.D. It has pursued an aggressive expansion plan in Iowa. The acquisition will add 50 branches in Ames, Ankeny, Burlington, Clive, Fort Dodge, Mount Pleasant, Nevada, Perry and West Des Moines. Great Western Bank has more than $8 billion in assets. Its focus is on agribusiness and commercial and industrial lending. Its parent company is National Australia Bank Ltd., which has more than $750 billion in assets.