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Bank Iowa to consolidate


Bank Iowa Co. announced yesterday that it has filed an application to consolidate its seven bank charters into one legal entity.

The consolidation’s approval is expected during the first quarter of 2011, and all locations will continue to operate with local leadership under the Bank Iowa brand.

The consolidation is part of Bank Iowa’s strategic plan to decrease costs and combine balance sheets, the company said in a press release.

Bank Iowa has banks in 21 locations, including three in Greater Des Moines.

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