News 25 August 2017

Rigler Investment makes significant purchase

 
State Bank’s Rigler Investment Company announced Thursday morning that it will purchase Peoples Trust and Savings Bank, which will almost double the size of the New Hampton-based banking firm.
John Rigler II, the chairman of Rigler Investment and the president and CEO of State Bank, announced that a “definitive agreement” has been signed to acquire all the outstanding shares in Green Circle Investments Inc. and its wholly owned subsidiary, Peoples Trust and Savings Bank.
The purchase represents $325 million in assets while Rigler Investment’s State Bank has $375 million in assets.
Once the acquisition, which is subject to regulatory approval this fall, the organization will have more than $700 million in assets, making it one of the top 25 largest community banking companies in Iowa.
— For more on this story, see the Aug. 25 Tribune

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