Bank Iowa Corp. said Monday it has closed on its previously announced acquisition of First State Bank of Colfax. The purchase of the $65 million community bank, which began operating under the Bank Iowa name on Dec. 2, brings Bank Iowa’s assets to $1.4 billion and adds a 23rd community to the list of communities it serves. Bank Iowa CEO Jim Plagge said the bank has begun integrating First State Bank’s systems and onboarding Colfax clients to Bank Iowa products and services. A remodel of the Colfax bank building will begin soon, Plagge said.