Sheldon, Iowa-based Northwestern Bank merged into its sister charter The Security National Bank of Sioux City, Iowa. The $255 million Northwestern Bank had two offices, in Sheldon and Orange City, Iowa.
The two charters share administrative, operational and technological resources through their holding company, Security National Corp., Dakota Dunes, S.D.
The $1.3 billion Security National Bank has seven other branches in Iowa in addition to its main office.
“Unifying our name reflects the way our community banks have worked together for many years,” said Security National Bank Chair and CEO D. Douglas Rice. “As our family of banks join as Security National Bank, our customers can be confident in our capability and our commitment to serve them with excellence in their financial lives, and to help them take care of the things that matter most.”
The $1.8 billion Security National Corp., also operates the $215 Security National Bank of South Dakota, Dakota Dunes.