MidWestOne Bank completes merger with First National Bank

FAIRFIELD — MidWestOne Bank has announced that its merger with First National Bank is complete.

MidWestOne Bank first announced its purchase of First National Bank in Fairfield in November 2021. On June 9, representatives of MidWestOne Bank said the planned acquisition had received all regulatory approvals and was thus complete.

The merger means that First National Bank in Fairfield will become MidWestOne Bank on July 25. MidWestOne is contacting First National customers detailed information about the enhancements to products and services, banking hours, and other benefits to begin that day.

MidWestOne Bank plans to move its offices into what is now First National Bank, on the east side of South Court Street in Fairfield, across the street from MidWestOne Bank’s downtown branch. MidWestOne will close that office on July 21 to move across the street and open back to the public four days later. MidWestOne plans to permanently close its bank on the west edge of Fairfield, located at 2408 W. Burlington Ave. on Aug. 25.

Company representatives of MidWestOne said the bank is moving its staff into the First National building because of its drive-through and ATM services, handicap accessibility and additional parking.

MidWestOne Bank Market President Ron Haines said he believes this merger will be good for both banks’ customers and for the community.

“We look forward to serving the community out of the 100 East Burlington location,” Haines said. “By combining our operations into this single location, we continue to support downtown, offer the convenience of drive-through banking, and have the entire team working together in one convenient place for our customers.”

As part of the merger agreement, Iowa First Bancshares Corporation, the parent company of First National Bank, has made a $250,000 contribution to the MidWestOne Foundation to provide financial support for the arts, education, wellness, recreation, and civic services.

“This gift will help support our local communities into the future,” Haines said.

Craig Foss, chairman of the First National Bank’s board of directors, said he was pleased to see the merger completed.

“We now can continue to integrate the best of MidWestOne’s and First National Bank’s resources to better serve our Fairfield customers together,” he said.

MidWestOne Bank Chief Executive Officer Charlie Funk complimented First National Bank on its 157 years of service as a community- and family-focused bank. He said that, for more than a century and a half, First National Bank put the needs of its customers first, providing financial services and economic stability to the Fairfield community.

“We look forward to continuing that rich heritage and providing the resources and support — and financial strength that MidWestOne is known for — to help individuals, families, and businesses achieve their goals for decades to come,” he said.

Headquartered in Iowa City, MidWestOne operates banking offices in Iowa, Minnesota, Wisconsin, Florida, and Colorado.

Call Andy Hallman at 641-575-0135 or email him at andy.hallman@southeastiowaunion.com