First State Fremont, the holding company for First State Bank & Trust Co., announced Wednesday it has entered into an agreement to acquire Two Rivers Bank of Blair and Arlington.
The transaction is expected to be completed by then end of the fourth quarter of 2021, subject regulatory approval, the banking institutions announced in a joint press release.
“The transaction joins two banks who are customer-focused with long histories of commitment to their local communities,” the release said.
Under the agreement, First State will acquire both of the Two Rivers Bank locations, bringing the number of locations to six. First State has four locations in Fremont.
“We are proud to expand into these two communities,” said Chuck Johannsen, president/CEO/chairman of the Board of First State. “We care about the customers and communities we serve. Two Rivers Bank has been dedicated to excellence in customer experience and we look forward to being part of the Blair and Arlington communities. Our two organizations have had a history of working together and we feel this joining of forces will be a great fit.”
Randy Lock, president of Two Rivers Bank, agreed.
“Joining the First State family opens new doors for our loyal customers and employees,” he said. “First State is committed to furthering the care and attention our customers know and trust and we take pride in knowing that the core values, as well as community investment, will remain the same.”
Two Rivers Bank, a locally-owned community bank, has served Blair, Arlington and the surrounding area since 1890. It has more than $148 million in assets as of June 30, according to the press release.
First State Bank and Trust Company is a locally-owned bank with more than $288 million in assets. It has served the community since 1956.
“Both banks are dedicated to the regions they serve through community reinvestment, connecting business owners with resources to fuel growth, employing a team of professionals dedicated to serving their customers and community service,” the press release said. “Both banks pledge that their customers will experience the upside of great products and services, more investment into these communities, and the same great service they have come to expect.”