Commercial Federal Corp. has agreed to acquire Perpetual Midwest Financial Inc., parent company of Perpetual Savings Bank, Cedar Rapids, Iowa.

The agreement calls for Commercial, based in Omaha, to pay $57.4 million in stock for $402 million-asset Perpetual.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.