WATERLOO, Iowa -- Iowa National Bankshares and MidAmerica Savings Bank said they signed a definitive agreement to sell two MidAmerican branches to clear the way for the two institutions to merge.

The divestiture was one of the conditions imposed on the merger by the Federal Reserve Board, which was concerned about diminished competition.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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