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Home ›Kerndt Brothers Bank announces acquisitions of Fidelity Bank locations in Waukon and Decorah
Kerndt Brothers Bank has announced that the organization will be acquiring two new locations in northeast Iowa. Fidelity Bank & Trust locations in Waukon and Decorah will become the newest locations added to the Kerndt Brothers Bank line-up.
“We are very excited about these two particular locations,” stated Kerndt Brothers Bank President and Chief Executive Officer James Kerndt. “Our company has been a very active community partner in Waukon for over 30 years, contributing to numerous capital campaigns in that area. I also have personal ties in the Decorah community and have a deep-rooted love of that community as well. This seems to be a natural next step for our organization and fits well with our long-term strategic direction.”
Fidelity Bank & Trust opened its Waukon branch in 2002 and the Decorah location in 2006. “Fidelity has been a great partner throughout this transaction. We could not be more impressed with their leadership and employees. We are dedicated to retaining the teams at both locations so valued customers feel absolutely no inconvenience. It will really be business as usual,” stated Kerndt.
The two new locations will each begin operating as Kerndt Brothers Bank November 23 of this year, subject to both state and federal regulatory approval.
Kerndt Brothers Bank has been in operation since 1856 with the opening of a broom factory and general store in Lansing. Farmers at that time knew the Kerndt brothers would protect their funds, and the cash they left in the safe at the back of the store constituted the first deposits in the Kerndt Brothers Savings Bank. In 1908, the Kerndt Brothers private bank became incorporated as a state bank. More than a century later, the Kerndt Brothers Bank corporate office remains in Lansing.