First State Associates in Hawarden, Iowa, has agreed to buy Miner County Bank in Howard, S.D.
The $134 million-asset First State and the $47 million-asset Miner County filed the agreement with the Federal Reserve Board this month. Financial terms of the deal have not been disclosed.
The banks expect the deal to close later this quarter or early in the fourth quarter, according to The New Era in Parker, S.D.
First State already operates three branches in South Dakota through its Farmers State Bank. Its First State Bank has one branch in Iowa.
Miner County operates two branches, in Canova and Howard, S.D.