Community Bank merges with Iowa affiliate, has new name
Community Bank in Austin has a new name.
The bank merged July 1 with Community National Bank, headquartered in Waterloo, Iowa, and taken on its name. Both banks were affiliates of the same parent company, Community National Bancorporation, which formed in 1997.
The merger is primarily a name change for the two Austin locations, according to a press release, and staff and services will remain unchanged.
Community National Bank offers a broad range of financial services, with a focus on small
business and consumer banking. The Austin bank is supported by a local board of directors and shareholders.
The bank also serves Cedar Falls, Mason City and Waterloo, Iowa, with eight locations. The company has more than 440 local shareholders and $260 million in total assets, according to the release.
Community Bank closed three of its branches in Austin, Albert Lea and Mankato Hy-Vee stores in December 2009. The two locations remaining are located at 900 18th Ave. N.W. and 805 Main St. in Austin.
—Community Bank of Austin merged with Community National Bank, headquartered in Waterloo, Iowa, and took its name July 1
—The bank says staffing and services will remain the same
—The bank now has two locations in Austin, at 900 18th Ave. N.W. and 805 Main St., and eight in Iowa.