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First National Bank closes Farmers & Merchants Savings Bank deal

Waverly, Iowa-based First National Bank closed its acquisition of three branches from Manchester, Iowa-based Farmers & Merchants Savings Bank, the former said on its website.

The three branches in Clarion, Eagle Grove & Goldfield in Iowa earlier operated as Security Savings Bank, a division of Farmers and Merchants Savings Bank. All three branches will open for business as First National Bank effective Aug. 19.

First National Bank is a unit of First of Waverly Corp. and Farmers & Merchants Savings Bank is a unit of Dunn Investment Co.