Earlham Savings Bank, which opened its newest branch in Woodward last week, also plans to open a branch in Van Meter early next year. The West Des Moines-based bank received approval from the Iowa Division of Banking on Nov. 17 for the Van Meter branch.

“We’re a Dallas County bank,” said Garret Hulse, Earlham Savings’ bank development officer. “This is our area and where we feel we should focus. We believe in small towns, and they’re both in Dallas County, so they seemed like a good opportunity for us.”

The bank plans to renovate a former coin-operated laundry at 420 Mill St. in Van Meter, just south of a Casey’s General Store, Hulse said. The full-service branch will include a night deposit box and a walk-up automated teller machine in a climate-controlled shelter. The bank plans to build a permanent stand-alone office in the future, but has not yet selected a site, he said.

Earlham Savings reported third-quarter net income of $1.28 million; total assets were $248 million as of Sept. 30, a 9.7 percent increase from September 2009.

The bank expanded to West Des Moines in 1990 and in April 1993 completed its present headquarters building in West Des Moines and moved its charter from Earlham. It also operates two branches in Des Moines as well as offices in De Soto and Earlham.