Liberty Bank Makes Deal to Sell Two More Branches

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By Aaron Hepker

Story Created: Feb 17, 2012 at 11:01 AM CDT

Story Updated: Feb 17, 2012 at 11:01 AM CDT

WEST DES MOINES, Iowa (AP) — Liberty Bank has made another deal to sell bank branches in its effort to meet regulators' demands.

The Des Moines Register reports Ames National Corp. is buying a Liberty branch in two north-central Iowa towns: Garner and Klemme.

Randall-Story State Bank, an Ames National affiliate, will acquire $94 million in deposits and $50 million in loans at the two banks.

Terms are not being disclosed. The deal is subject to regulatory approval and is expected to be completed in the second quarter.

Earlier this month, West Des Moines-based Liberty said three Liberty branches and a drive-up location were being sold to Spencer-based Northwest Bank.

Regulators told Liberty last summer that it needed to raise its core capital ratio. The bank suffered loan losses in Florida during the recession.

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