Wayland State Bank to Acquire Peoples State Bank

Written by Theresa Rose on June 2, 2016

Heartway Bancorporation Corp., holding company of Wayland State Bank, has announced the signing of an agreement to acquire Peoples State Bank located in Winfield, Iowa.  The agreement is subject to shareholder and regulatory approval, which is anticipated in the fourth quarter of 2016.  Wayland State Bank operates bank locations in Wayland and Mt. Pleasant.  With the addition of the Peoples State Bank in Winfield the consolidation will create an estimated combined asset value of $118 million.