Agreement in place for sale of State Bank
A New Hampton bank that has been owned by the Rigler family for more than 81 years is being sold to a Dubuque-based bank that has locations in three states.
Fidelity Company President James R. Kennedy announced Wednesday that a “definitive agreement” has been signed to acquire State Bank.
“After 81 years with State Bank, the Rigler family was very careful in selecting a buyer,” State Bank Chairman and CEO John Rigler II said in a press release. “”The Kennedys, with their similar history and commitment to rural Iowa, rose to the top of our list. It was a very easy decision, given their commitment and culture.”
“The Rigler family and the employees of State Bank have done an extraordinary job over multiple generations to build an outstanding organization,” Kennedy said in the same press release announcing the sale. “We are very excited to become part of these communities.”
— For more on this story, see the Nov. 2 Tribune