By Casey Jarmes | The News-Review
SIGOURNEY – MidWestOne Bank, an Iowa City-based banking chain with a branch in Sigourney, announced a merger with Green Bay-based banking chain Nicolet Bankshares in October of last year. On Feb. 13, the Sigourney MidWestOne officially began operating as a division of Nicolet. According to a press release sent out by Nicolet, the 50+ MidWestOne locations will all transition to the Nicolet brand and digital banking platform in August of this year.
“The completion of this merger represents an important milestone in Nicolet’s disciplined growth strategy. MidWestOne is a strong cultural and strategic fit, and this combination enhances our ability to serve customers across our expanded footprint while maintaining the local decision making that defines our model of shared success,” said Nicolet Chairman, President, and CEO Mike Daniels, in the press release.
A letter sent out to MidWestOne customers states that “there is no customer action required at this time, and it is business as usual at MidWestOne Bank.” The letter claims that this merger will not change the banking chain’s “focus on staying local,” and that “decisions about banking-related matters and investments in the community will be made by those closest to the customer.”
“Local decision-making is one of the key differences between us and our larger competitors,” the letter reads.
The bank building on main street was built in 1973, as the building for First Trust and Union Savings Bank. The bank went through several names and owners over the years, including United Central Bank, First Interstate Bank, Boatmen’s Bank of Sigourney, Boatmen’s Bank Iowa National Association, and Central Valley Bank. In 2006, it was acquired by Oskaloosa-based MidWestOne Bank. In 2008, MidWestOne Bank merged with First State Bank in Iowa City, keeping the name MidWestOne Bank.
