First American State Bank, with locations in Davenport and Moline, has announced its pending merger with First National Bank in Fulda, Minnesota.
The two banks are a part of Farrar Banking Group, based in Pierre, South Dakota, and share common ownership. The combined institution, with 12 branch locations across four states, will be known as First National Bank, according to a news release.
"The name change is fitting with the pending internal merger of two great community banks," said Darwin Kruse, president and CEO, in the release. "Our common vision and understanding of community banking make this the perfect combination. We look forward to creating greater convenience for our customers, offering additional products and continuing to serve our community."
Family-owned First National Bank was founded more than 60 years ago. The bank has branch locations in Iowa, Illinois, Minnesota and South Dakota.
"This new partnership will allow us to offer additional personal and commercial services in our communities," Kruse said. "We're providing mortgages, business loans, equipment financing and advanced online technologies, along with first class customer care to a broader area."
The Farrar Banking Group also has operations in Nebraska, Colorado, Texas, Nevada and New Mexico.