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Emmetsburg Bank Shares, Inc. to Acquire Panora State Bank

February 13, 2018
Emmetsburg News

Kris Ausborn, Vice President of Emmetsburg Bank Shares, Inc. and President & CEO of Iowa Trust & Savings Bank, and Robert J. Dentel, President of Dentel Bancorporation and Director of Panora State Bank, announce the sale of the Panora State Bank, Panora, Iowa.

"We're pleased to be expanding into Panora" stated Ausborn. "Both Panora State Bank and Iowa Trust & Savings Bank have a long tradition of providing excellent service to our customers, and serving our local communities."

"This sale provides an opportunity for the buyer to expand into a strong local market with loyal customers and experienced employees." Dentel commented. "We have appreciated our association with Panora State Bank."

Iowa Trust & Savings Bank has assets of $225 million with offices in Emmetsburg and Clive. Iowa Trust was founded in 1929 and has remained under the same family ownership for 88 years. Panora State Bank opened in 1959 and has $71 million in assets with one location in Panora.

No staff changes are expected at the Panora State Bank. This acquisition is subject to regulatory approval which is expected in the first quarter of 2018.



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