Union State Bank announces merger with Corning bank

Union State Bank and the State Bank of Brooks are excited to announce a merger agreement in which Union State Bank will acquire the State Bank of Brooks. The assets and liabilities of the State Bank of Brooks will merge into the existing infrastructure of Union State Bank in the first quarter of 2024, pending regulatory approval.

Union State Bank’s main office is located in Greenfield with a branch in Bridgewater. The bank was originally established in Bridgewater in 1890 and has held a strong, community-driven presence for over 130 years. Current CEO Peg Scott led a local group of shareholders to form the holding company Greenfield Bancorporation, LTD to purchase the bank in 2007.

“It was important to the bank’s shareholders in 2007 that we maintain a locally-owned, locally-managed bank to serve our community and provide a stable workplace for local employees,” Scott said. ‘The bank’s ownership and management believe we can bring this same model to the Corning community.”

The Heaton Family, owners of the State Bank of Brooks, have served Corning and Adams County for 110 years. Jim and Burton Heaton had this to say: “We are pleased to be merging with another Southwest Iowa Bank that has the same commitment to personal banking with small town service and values that mirror our own.”

Union State Bank President, Matt Mensing, is excited to show the Corning community how Union State Bank operates.

“The current customer base of the State Bank of Brooks obviously values a bank with stability and timely decision making. Union State Bank was built on those same principles,” Mensing said. “Our business is based on loans to local farmers and small business owners as well as local residential real estate. We strive to provide a safe, secure depository for our customers’ deposit accounts while providingcurrent technology to serve those needs.”