Three area banks will merge under a single charter on Tuesday. The banks involved are West Chester Savings Bank of Washington, Freedom Security Bank of Kalona and Coralville, and Central State Bank of Muscatine. The combined banks will result in one institution with eight locations and nearly $440 million in assets.
Steve Olson, President and CEO of West Chester Savings Bank says, “No action is required on the part of our customers. “Account numbers will not change, and they can continue using their existing debit cards, checks and other materials. Online and mobile banking usernames and passwords will remain the same as well.” There are no immediate plans for changing products and services.
Additional merger-related information, including a “Frequently-Asked Questions” document, was mailed to customers late last week.