Time Bank Announces Agreement to Acquire Northwest Bank & Trust Company
Joe Slavens, president and CEO, has announced an agreement with Time Bank of Park Ridge, IL, to sell Northwest Bank’s community bank activities. The acquisition will not include the Investment Management Group or the bank’s subsidiary companies, which include Centennial Tax & Accounting, Stratman Solutions, and River Cities Development. Those entities will remain owned by the Slavens family. The sale is still subject to regulatory approval but is expected to be completed at the end of the year.
Time Bank is a family-owned and operated community bank that shares many of the values we have held for over 80 years. They believe in strong relationships with their employees, customers, and community. They are proud of their ability to simplify the most complex elements of banking for their customers and strongly believe in local decision-making and being agile and responsive
There are no changes and nothing you need to do at this point. We will continue to provide the exceptional customer service you currently enjoy. We will keep you informed as this progresses. You may read more here
Notice of Pending Succession
Pursuant to the Trust Account Transfer Agreement by and between Northwest Bank & Trust Company and Tower Trust & Investment Company dated December 10, 2024 (the “Agreement”), and Iowa Code Section 524.1007, Northwest Bank has transferred all accounts to which Northwest Bank & Trust Company was the fiduciary to Tower Trust & Investment Company.
Effective January 1, 2025, Tower Trust & Investment Company shall, without further notice, approval or authorization, succeed all Northwest Bank & Trust Company fiduciary accounts and the fiduciary powers, rights, privileges, duties, and liabilities for those accounts. All persons shown in the records of Northwest Bank & Trust Company to have a beneficial interest in the fiduciary accounts or entitled to notice or an accounting under the terms of the will, trust instrument, or other governing instrument of the fiduciary account, as required by chapter 633, 633A, or 633B, or other applicable statute under which the Northwest Bank & Trust Company has been operating as a fiduciary are entitled to notice of the pending succession.
Any person with an interest in an account held in a fiduciary capacity by a party to a succession agreement may, within sixty days after the mailing and publication of the notice, apply to the district court in the county in which notice is published for the appointment of a new fiduciary to replace Tower Trust & Investment Company on the ground that the succession will adversely affect the administration of the fiduciary account. The court shall have the discretion to appoint a new fiduciary to replace Tower Trust & Investment Company if it should find, upon hearing after notice to all interested parties, that the succession will adversely affect the administration of the fiduciary account and that the appointment of a new fiduciary will be in the best interests of the beneficiaries of the fiduciary account.
This notice is published pursuant to Iowa Code 524.1007.
Personal Banking
There’s no such thing as one-size-fits-all banking. That’s why Northwest Bank & Trust Company offers a variety of accounts designed to fit your specific needs. When opening an account at Northwest Bank, you have the benefit of a leading financial services company with 80 years of experience and our employee-owners putting your interests first.
Personal Checking
Our flexible checking options come with added benefits such as competitive interest rates and convenient banking services.
Personal Savings
We offer a variety of savings products to help you reach your financial goals. Choose an account that works for you!
Loans & Credit
Enjoy a range of borrowing power with our loan and credit card options plus an experienced banker on your side.
Testimonials
Partnering for Long-Term Success
"We have been Northwest Bank business customers for over eight years now and are so happy we chose to partner with them. The last two years have been tough on our industry, and the bank staff have always been available to help us navigate various financial hurdles. It is also important to us to align with a locally owned bank that is active in the community. We look forward to continuing our strong relationship for years to come!"
The Collins / Maus Family
Me & Billy
A Bank that Understands Economic Development
"I have done loans with a lot of different banks throughout my career, but what really set this one apart is the unique relationship ... Keystone on 8th was a particularly complicated deal with a lot of obstacles to overcome. Northwest Bank had a team of people working to bring it to the finish line. It was a great collaboration. I felt like the bank wanted the project to happen as much as I did."
Joe Cordaro, President
JGC Holdings
It’s About the Relationship
"I appreciate that Northwest Bank offers us a full-service, one stop experience. But where it really goes above and beyond is the people. The people at Northwest Bank have taken the time to get to know our business and understand what we do. The fact that we’re working with local bankers who we can sit down with and explain our needs and corporate vision is a huge advantage."
Business Banking
Northwest Bank proudly supports and partners with Quad Cities small businesses, offering products are services customized to your specific business needs. From checking and savings, to loans and cash management tools, we’re here to provide solutions that work as hard as you do.
Business Checking
Business banking shouldn’t be a hassle, which is why our checking accounts are designed to make your banking fast and easy.
Business Savings
With a variety of savings options suited to the specific needs of your small business or company, we will make sure you’re set up for long-term success.
Commercial Loans & Credit
Our team of lenders is ready to provide local lending decisions and flexible commercial financing options to meet your needs.
Articles
Exciting Changes Coming in 2025!
Market Viewpoints – Summer 2024
Should I Earmark My Charitable Gifts or Leave Them Unrestricted?
Investment Management / Trust
The Investment Management Group team of professionals is here for you through the phases of your financial life, from saving for retirement, through helping plan your financial legacy and administering your estate. Our team is able to offer clients a comprehensive array of services to help plan and manage their wealth and navigate the complexities along the way.
Investment Management
No matter your investing experience level, we will work with you to develop an individualized plan that fits your risk tolerance and personal needs.
Trust Services
As a Trust Department we can provide many additional services that give you more complete financial planning, while taking full fiduciary responsibility for your financial well-being.
Business & Nonprofit Services
We offer a range of services designed specifically for businesses and nonprofit organizations, such as retirement plans, nonprofit investment services, and custody services.