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WATERLOO -- Farmers State Bank announces that it has entered into an agreement to acquire Central State Bank, subject to customary regulatory approval.
The combination brings together two Iowa community banks with long histories of personal service and local commitment. Founded in Jesup, in 1879, FSB has served Iowa customers for generations. Headquartered in State Center, Central State Bank has served Iowa communities since 1942, building its reputation around family ownership, local decision-making and relationship banking.
Since entering the West Des Moines market in 2019, FSB has invested in local relationships, expanded its team and created additional capacity to serve individuals and businesses in the area. The acquisition builds on that commitment and creates an opportunity to serve more Iowa customers while preserving the personal, locally focused banking experience both organizations value.
The banks share a belief that strong communities are built through trusted relationships, responsive service and local decision-making. Together, they expect to preserve that community-bank approach while combining Central State Bank's established relationships and local market knowledge with FSB's broader capabilities, expertise and technology.
Central State Bank's directors sought a community banking partner to support a smooth transition for its customers, employees and communities. For FSB, the acquisition supports a long-term strategy of thoughtful growth in Iowa while helping preserve the bank's independence.
"This is an exciting milestone for both organizations. We believe this partnership strengthens our ability to serve customers, invest in our communities and create opportunities for employees. As the banking landscape continues to evolve, thoughtful growth helps preserve the strength and independence of community banking in Iowa," said Rod Duroe, chairman and CEO, Farmers State Bank.