BREAKING NEWS: AREAS BANKS SOLD TO IOWA INSTITUTION

MBT Bank of Forest City, Iowa has acquired banks in Dodge, Steele and Mower counties.
MBT announced late Friday afternoon it has entered into an agreement to acquire Citizens State Bank of Hayfield with locations in Hayfield, Dodge Center and Mantorville, as well as Farmers and Merchants State Bank in Blooming Prairie with locations in BP and Austin.
"This is a great opportunity for our banks, staff, and communities to move forward with MBT Bank. Like MBT Bank, our dedicated employees take pride in offering personal customer service," said Mark Miedtke, President of CSB.
Dennis Busta, president and CEO of MBT Bank said, “For over 75 years, we have served our communities and customers the way F&M and CSB have. We are excited to have these two family owned banks and their employees become part of MBT Bank.”
F&M President Jim Fiebiger of Blooming Prairie said, “Our identical banking philosophy will provide more and better banking products for our customers, but will also maintain the local, friendly banking environment our customers have grown accustomed to.”
F&M has assets of $110 million while CSB has assets of $130 million.
The sale is pending federal approval and is expected to be completed in September.