WEST DES MOINES, Iowa (AP) — Liberty Bank has made a deal to sell four locations in northwest Iowa as part of its effort to meet demands from regulators.
The West Des Moines-based bank says three Liberty branches and a drive-up location will be sold to Spencer-based Northwest Bank, pending regulatory approval. Terms have not been announced.
Northwest already has a total of 16 locations in Iowa and Nebraska.
Regulators told Liberty last summer that it needed to raise its core capital ratio. The bank suffered loan losses in Florida during the recession.
Liberty announced the sale of two Council Bluffs locations in October to American National Bank.
After the sales close, Liberty will have branches 15 Iowa cities, plus branches in Florida and East Dubuque, Ill.
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