Northwest Federal Savings Bank becomes Northwest Bank May 15
SPENCER — Effective May 15, Northwest Federal Savings Bank, with bank locations in Algona, Belmond, Estherville, Fort Dodge, Humboldt, Milford, Okoboji, Spencer, Spirit Lake, and Storm Lake, will change its name to Northwest Bank.
Northwest Federal Savings Bank, which began 20 years ago in Spencer, is making the move to publicly consolidate a network of 16 banking locations that currently carries three distinct names:
n Gateway Community Bank, with Nebraska bank locations in Omaha and La Vista.
n Northwest Federal Savings Bank, with Iowa bank locations in Algona, Belmond, Estherville, Fort Dodge, Humboldt, Milford, Okoboji, Spencer, Spirit Lake, and Storm Lake.
n Northwest Bank, with bank locations in Des Moines and two locations in Ankeny.
Effective May 15, all locations will be called Northwest Bank and be rebranded with the same logo.
Northwest Bank CEO Neil Stanley said the company’s past success has come from the entrepreneurial spirit present in the leadership of each of its bank locations. The company offers expertise in business banking, home loans, home builder loans, consumer savings, and credit products.
“We are going to continue to emphasize the high-touch approach to banking which has served our customers so well,” Stanley said. “The benefit to the changes taking place May 15 is that our full line of business and consumer banking services will be more accessible to our customers across our entire network.”
Northwest Bank, which has 230 employees and 16 locations, is held by Northwest Financial Corporation, based in Spencer. With $1.2 billion in assets, Northwest Financial Corporation — owned by Dwight and Neal Conover — is the sixth-largest banking company headquartered in Iowa.
In addition to the Northwest Bank charter, Northwest Financial Corporation owns two additional banking charters, First National Bank with bank locations in Afton and Creston, and First National Bank with bank locations in Sioux City, Sioux Center, and Le Mars. On May 15, banks within both First National Bank charters will experience graphic branding changes to tie them visually to Northwest Bank. However, because of the provisions of their separate charters, they will continue operating under the name First National Bank.