Hy-Vee’s Midwest Heritage Bank to Acquire Iowa Savings Bank

Midwest Heritage Bank, a subsidiary of Hy-Vee, announced an agreement on March 19, 2026, to acquire Iowa Savings Bank, a Carroll, Iowa-based community bank. The acquisition, pending regulatory approval, will expand Midwest Heritage’s presence in western Iowa and add Iowa Savings Bank’s trust and estate planning services to its offerings. The Des Moines Register reported on the deal.

Expanding Midwest Heritage’s Footprint

Iowa Savings Bank, founded in 1902, operates four branches and employs 33 individuals. The acquisition will allow Midwest Heritage to serve a broader customer base in western Iowa. Iowa Savings Bank stated the partnership will bring together two community-focused institutions with shared values.

Shared Values and Services

According to Tony Kaska, chairman and CEO of Midwest Heritage, Iowa Savings Bank’s commitment to community engagement, personalized service, and local decision-making aligns well with Midwest Heritage’s values. The Des Moines Register noted that Iowa Savings Bank specializes in fiduciary and farm management services through its Trust division.

Transaction Timeline

The transaction is expected to close in April or May 2026, subject to regulatory approvals. Iowa Savings Bank has provided a customer FAQ regarding the acquisition.

About Midwest Heritage Bank

Midwest Heritage Bank, established in 1930, has been part of the Hy-Vee family of companies since the 1960s. It operates six in-store Hy-Vee locations, as well as two branches in West Des Moines and Chariton, Iowa. Midwest Heritage Bank offers a range of financial services, including personal and business banking, loans, insurance, and investments. More information can be found on the Midwest Heritage website.