Two Rivers Bank & Trust to purchase First Community Bank

BURLINGTON - Two Rivers Bank & Trust, a community bank headquartered in Burlington and Dubuque Bank and Trust, a wholly-owned subsidiary of Heartland Financial USA Inc., jointly announced today that they have entered into an agreement for Two Rivers Bank & Trust to purchase the two Keokuk branch offices of Dubuque Bank & Trust, operating under the name First Community Bank (the 'First Community Bank Branches”). The transaction remains subject to regulatory approval and other customary closing conditions and is expected to close in the second quarter of 2019. The transaction is not expected to have a material effect on Heartland's consolidated financial results.

'As a community bank headquartered in Burlington, this will be a natural fit with the geographic footprint and culture of Two Rivers Bank & Trust, and we look forward to further building relationships in the Keokuk community,” said Matthew Shinn, President and CEO of Two Rivers Bank & Trust. 'We extend a warm welcome to the First Community Bank Branch customers and employees to our organization.”

All current employees of the First Community Bank Branches have been offered employment with Two Rivers Bank & Trust. The First Community Bank Branches had deposits of approximately $83 million as of September 30, 2018.

Mr. Shinn commented: 'The leadership teams of the two institutions will be integrally working together to preserve a quality customer experience. We have a strong commitment to support the staff and customers as we make this transition.”

Tut Fuller, President and CEO of Dubuque Bank and Trust said, 'Reaching this agreement with a community bank such as Two Rivers Bank & Trust is a win-win for our customers and employees.” Barb Smidt, First Community Bank's Market President, added, 'After meeting with Two Rivers Bank & Trust, I feel that we have found a partner who shares our commitment to customers and their employees, and has its headquarters approximately 40 miles from Keokuk. We believe that our customers will be served well by Two Rivers Bank & Trust.”

Two Rivers Bank & Trust, a state chartered bank headquartered in Burlington commenced operations in 1904, and currently has banking centers located in Ankeny, Burlington, Coralville, Des Moines, Iowa City, Mt. Pleasant, Mediapolis, New London, West Burlington, and West Des Moines, as well as a loan production office in Bettendorf.