Ames National Corp. in Iowa has agreed to acquire two branches in the north central region of the state from Liberty Bank.
The deal includes $94 million in deposits and $50 million. Ames, which recently surpassed $1 billion in assets, did not disclose an offer price. The branches in Garner and Klemme are to be merged into one of Ames’ subsidiaries, Randall-Story State Bank in Story City.
The seller, the $994 million-asset Liberty Bank in West Des Moines, Iowa, has 26 offices across three states, according to the Federal Deposit Insurance Corp.
Ames said in the announcement Thursday that it expects to close the deal in the second quarter, pending regulatory approval.