GreenState Credit Union, B.R.O.S., Exercising Your Character, 2020 Prometheus Awards
GreenState Credit Union is anticipating a speedy resolution to an unexpected regulatory hurdle it ran into in its planned acquisition of seven branch locations from First American Bank in Fort Dodge. The Iowa superintendent of banking, Jeff Plagge, earlier this week denied an application from First American Bank that the agency said is necessary for the deal to be completed. Today, Jim Kelly, GreenState’s chief marketing officer, said that First American Bank’s legal counsel has had “constructive dialogue” with the Iowa Division of Banking and anticipates a positive resolution will be announced by the banking commissioner next week. “With all applicable regulatory approvals for the purchase in hand, our stance is that the deal remains consummated and will not be undone,” Kelly said in an emailed statement. “As has always been the case, GreenState deposits are federally insured. We consider this matter behind us and will continue with business as usual. We are extremely excited about the joining of these two Iowa-based institutions and the positive outcomes it will produce for Iowans.”