Cedar Rapids, Iowa News, Sports, and Weather
City State Bank Expands, Changes Name to NXT Bank
CENTRAL CITY, Iowa (AP) City State Bank, an eastern Iowa banking company based in Central City says it is expanding and rebranding with the acquisition of five Liberty Bank branches and a new name.
CEO Bruce Anderson says the name change to NXT Bank is the first step in a brand evolution that will focus on the idea that customers are looking to finance their next car, their next business, or next phase of life.
The company says it closed Friday on the purchase of two Liberty Bank branches in Cedar Rapids in addition to others in Cedar Falls, Coralville, and Waterloo. Terms were not disclosed.
NXT Bank now has assets of more than $240 million and seven branches total. The company has been growing since 2008 when assets totaled $80 million.