Pella Financial Group, Inc., the holding company of Marion County Bank in Pella, has completed the purchase of Iowa State Savings Bank of Knoxville and Melcher-Dallas from Duclarkee, Inc. The transaction has completed regulatory approval and closed Monday. Marion County Bank and Iowa State Savings Bank plan to officially merge in November 2019, at which time the Iowa State Savings Bank locations in Knoxville and Melcher-Dallas will be known as Marion County Bank. Until that time, the two will run separately, and business will be conducted as usual.

Marion County Bank President Steve Kraayenbrink says the process has been ongoing for several years, and he looks forward to the company’s expansion.

“We work hard to be a positive, active and engaged bank as we serve Pella and the surrounding area. We look forward to expanding that experience to additional communities and to the employees and clients we will serve.”

Iowa State Savings Bank CEO Stu Job says it was critical that the buyer of their bank was committed to the area long-term and had local residents front of mind.

“Marion County Bank was carefully selected to carry on Iowa State Savings Bank’s long-standing commitment to our staff, our customers, and our communities,” said Job. “We are confident the
communities of Knoxville and Melcher-Dallas will continue to benefit from Marion County Bank’s passion and commitment to community banking.”

Executive Vice President and COO of Marion County Bank Ron Zantingh has been appointed to lead the merger.