Northwest Bank to purchase Bank of America branches
Northwest Bank, based in Spencer, has entered into an agreement with Bank of America Corp. to purchase its bank branch locations in Spencer, Algona, Fort Dodge and Estherville.
The purchase is subject to regulatory approval and is expected to be completed in August, the family-owned bank said in a release. Terms of the transaction were not released.
As part of the purchase, Northwest Bank said it will invite all personnel at the branches to join its staff. Customers will receive a letter providing additional details concerning their accounts.
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