May 7, 2019 Update:
Pella Financial Group, Inc., the holding company of Marion County Bank of Pella, Iowa, has completed the purchase of Iowa State Savings Bank of Knoxville and Melcher-Dallas from Duclarkee, Inc.
The transaction has completed regulatory approval and closed Monday, May 6, 2019. Marion County Bank and Iowa State Savings Bank plan to merge in November 2019, at which time the Iowa State Savings Bank locations in Knoxville and Melcher-Dallas will be known as Marion County Bank. Until that time, Marion County Bank and Iowa State Savings Bank will run separately, and business will be conducted as usual.
“Marion County Bank was carefully selected to carry on Iowa State Savings Bank’s long-standing commitment to our staff, our customers, and our communities,” said Stu Job, President of Duclarkee, Inc. “We are confident the communities of Knoxville and Melcher-Dallas will continue to benefit from Marion County Bank’s passion and commitment to community banking.”
Ron Zantingh, Executive Vice President and COO of Marion County Bank has been appointed to lead the merger of the two banks. “Between now and November, we will be working on the details behind merging Iowa State Savings Bank and Marion County Bank. Our community bank philosophy will guide us in all the decisions that will be made. We look forward to continuing our mission of serving you and building community throughout all of Marion County.”