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Iowa-based Central Bancshares to top $1B in assets with pending acquisition

Aug 27, 2019 - SNL Financial
Mergers and Acquisitions

Muscatine, Iowa-based Central Bancshares Inc. has agreed to acquire Walcott, Iowa-based Walcott Trust and Savings Bank.

The deal will see the acquirer top $1 billion in total assets after closing, according to a news release. Terms of the transaction were not disclosed. The deal is expected to close by the end of 2019.

Walcott Trust and Savings Bank has total assets of approximately $130 million, Central Bancshares said. It serves a primary market area of Scott and northeast Muscatin...