05/06/2026
Announcement of agreement to acquire Welcome State Bank
Independence, IA and Welcome, MN, (May 5, 2026) – Fidelity Ban Corporation, of Independence, Iowa, the parent company BankIowa, is pleased to announce that it has entered into an agreement to acquire Welcome State Bank of Welcome, Minnesota. The proposed transaction, still subject to approval by regulators, is anticipated to close later in 2026.
Alison Urbina, a representative of Fidelity Ban Corporation, expressed her excitement about the acquisition. “Our company has operated BankIowa and proudly served Northeast Iowa for 105 years. We are happy to expand into Minnesota by adding Welcome State Bank to our organization. We look forward to serving the community of Welcome and Martin County, and to calling Minnesota home. It is truly an honor to have the heritage of Welcome State Bank’s 113 years join our growing company.”
The leadership of Welcome State Bank echoed that sentiment. “We believe this partnership is a strong fit for Welcome State Bank and our customers,” says Jon Saxen, President. “By joining Fidelity Ban Corporation, we will gain access to expanded resources, enhanced products, services and continued strength as a community-focused bank-while maintaining our local presence and leadership in Welcome and the Martin County area”
Upon completing the acquisition, Welcome State Bank will operate as a bank owned by Fidelity Ban Corporation. Saxen and the current Welcome State Bank team will continue to serve its customers.
