South Story Bank & Trust under new ownership group
BPC Staff Dec 11, 2019 | 9:21 pm
1 min read time138 wordsAll Latest News, Banking & Finance, Iowa News
South Story Bank & Trust is under new ownership, but its name, staff and locations have not changed. The community bank was recently sold to a new ownership group that includes seasoned Central Iowa bankers Steven Simon and Darrell Hughes as CEO and president, respectively, along with Stine Seed Co. founder Harry Stine as an investor. Financial terms of the sale, which was effective Oct. 31, were not disclosed. The bank, which has branches in Huxley and Slater and an Ames loan production office, was founded in 1954 and had been owned by the Garst family through Greene County Investment Co. since 2007. The bank may expand in Central Iowa if the right opportunity becomes available, the new owners said in a news release. South Story Bank & Trust had $201 million in assets as of Sept. 30.