GreenState and First American enter into a Purchase and Assumption Agreement
Subject to Regulatory Approval
North Liberty, Iowa (June 25, 2019) – GreenState, North Liberty, Iowa, and First American, Fort Dodge, Iowa, announced today that they have entered into a purchase and assumption agreement. GreenState will purchase seven branch locations in central Iowa from First American. The branch offices to be purchased are located in Fort Dodge and greater Des Moines. The transaction is subject to regulatory approval and is expected to close in the fourth quarter 2019.
“We are excited about the opportunity to enhance the financial well-being of Iowans throughout the Des Moines and Fort Dodge communities, while at the same time providing greater convenience for our existing members living in those areas” said Jeff Disterhoft, President and CEO of GreenState. “Financial choice and healthy competition are not only good for our members but for all Iowans, and we look forward to creating lasting value for the consumers we serve in those communities for generations to come
John A. Fisher, CEO and President of First American, stated, “First American is proud to have served the Fort Dodge and greater Des Moines communities throughout the years. We are confident that GreenState’s consumer and mortgage business will blend well with our commercial banking and trust services. The combination of the two financial institutions will be of great benefit to consumers, small businesses and our respective communities.”
About McQueen Financial Advisors
McQueen Financial is a nationwide financial advisory firm serving financial institutions since 1999. McQueen has advised on ~25% of all Credit Union / Credit Union Mergers nationwide, annually.
Transaction Leads
Dan Martin
Director of Transaction Advisory & Valuation