Pleasantville — Peoples Bank of Indianola and Pleasantville State Bank jointly announce today they have entered into a definitive agreement under which Peoples Bank will acquire Pleasantville State Bank.
The transaction creates a strong partnership bringing together two compatible organizations. This acquisition will increase the level of resources available to provide opportunities for expanded services, as well as the convenience of additional locations. The acquisition is expected to close mid-to late-2014 and is subject to various transferal of ownership conditions, including regulatory approval.
“We welcome Pleasantville State Bank customers to our Peoples Bank family,” said Kevin Halterman, president and CEO of Peoples Bank. “This is an exciting opportunity to expand into a very strong community. We have a great deal of respect for Pleasantville State Bank and we are excited to help them grow.”
Locally owned and operated for over 15 years, Peoples Bank has a tradition of working hand in hand with the communities they serve. With locations in Indianola, Milo, Lacona and Carlisle, Peoples Bank assets total $155 million. All products and services, including Peoples Bank new mobile banking app, will be available to Pleasantville Bank’s full customer base along with access to all four Peoples Bank locations.
“Pleasantville State Bank customers will receive uninterrupted service throughout the acquisition, offering continued banking with people they have grown to know and trust,” said Halterman.
Pleasantville State Bank
Pleasantville State Bank was organized in 1930 and is located in Pleasantville, with both a main office and drive-up facility. As a family-owned and operated financial institution, it provides a wide range of banking products with total assets of $41 million.
“While I will be retiring from Pleasantville State Bank, the majority of our staff will continue working for Peoples Bank,” said Mark Prill, president and CEO. “I would like to give a special thanks to our Pleasantville State Bank customers for allowing my family to serve you for the last 45 years and I want to thank you for your business and loyalty. Our goal is to continue under local ownership with hometown values, and we find Peoples Bank to be a perfect fit.”
Peoples Bank and Pleasantville State Bank are Members of FDIC.