The Next Chapter for CBT
Community Bank & Trust is set to join BankIowa. See what to expect ahead of the anticipated 2027 transition.
Thank you for trusting Community Bank & Trust (CBT). Your relationship means a great deal to us, and we’re pleased to share news about the next chapter of community banking in the Cedar Valley and how it impacts your CBT banking relationship.
What you need to know:
- There are no immediate changes at this time.
- Our friendly CBT staff will continue to serve you at our three branch locations.
- You will continue to conduct your banking as usual, without interruption, using your current checks, deposit slips, debit and ATM cards, direct deposits, pre-authorized and recurring transactions, statements, online banking, and mobile app.
- BankIowa will notify you of account and service transition details before the acquisition is completed, which is anticipated in the first quarter of 2027, subject to customary merger conditions and regulatory approvals.
- As a BankIowa customer, you will have access to relationship-based retail, consumer, and commercial banking, as well as cash management, mortgage lending, and trust and investment services. You will also enjoy an expanded branch network and specialized agricultural financial service.
- We know you'll have questions, and we're here to help. Please check this page regularly for updates - all in one centralized place. We'll continue to add information as it becomes available.
FOR IMMEDIATE RELEASE
November 2, 2026
BankIowa and Community Bank & Trust Announce Next Chapter
of Community Banking in the Cedar Valley
WATERLOO, IOWA - November 2, 2026 – BankIowa and Community Bank & Trust (CBT) today announced plans for CBT’s three Cedar Valley branch locations to join BankIowa, marking a new chapter for community banking in the Cedar Valley. Cedar Rapids Bank & Trust Company, a subsidiary of QCR Holdings, Inc. (Nasdaq: QCRH), has entered into a definitive agreement for BankIowa to purchase its CBT division, including its two branches in Waterloo and one in Cedar Falls, along with certain deposits and loans associated with those locations.
“We are excited to welcome these clients and employees to BankIowa,” said Alison Urbina, President and CEO of BankIowa. “This transaction strengthens our presence in the Cedar Valley market and aligns with our commitment to deliver exceptional service and support to the individuals, families, and businesses in the area.”
BankIowa is an independent, locally owned bank focused on providing outstanding client care while serving the financial needs of communities in Northeast Iowa with its local decision-making and relationship banking. It offers competitive consumer, investment, trust, and agriculture and commercial business banking services.
Community Bank & Trust has been an active partner in the Cedar Valley since 1997 (previously Community National Bank), helping over 61 organizations with 1,011 hours of volunteer time in the community year to date. In early 2026, they were recognized by Grow Cedar Valley as the 2025 Business of the Year.
“The relationships we’ve built with our clients in the Cedar Valley are at the heart of CBT,” said Stacey Bentley, President and CEO of Community Bank & Trust. “BankIowa shares our belief in personal service and local connections, making this a positive next chapter for our employees, clients, and communities we serve.”
The transaction is anticipated to close during the first quarter of 2027, subject to customary closing conditions and regulatory approvals.
Clients of Community Bank & Trust will continue to be served through their existing CBT branch locations and they will receive additional information from BankIowa regarding account and service transitions prior to closing.
“We are committed to ensuring a seamless transition for our clients and employees. We appreciate the trust our Waterloo and Cedar Falls clients have placed in us over the years, and we are confident they will continue to receive outstanding local community-based service from BankIowa,” Bentley added.
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About BankIowa
BankIowa is a full-service community bank founded in Independence, Iowa in 1921. Its foundations of Hometown Heritage, Commitment to Community, and Legacy of Leadership underpin its mission ‘Your Financial Future…Our Professional Passion.’ BankIowa proudly serves communities in Amana, Cedar Falls, Cedar Rapids, Independence, Jesup, Lamont, Marion, Norway, Rowley, and Waterloo. According to Bauer Financial Inc, BankIowa is designated an Exceptional Performance Bank by maintaining a 5-Star rating continuously for more than 10 years. For more information, visit BankIowa.com.
On November 2, 2026, Cedar Rapids Bank & Trust announced that its three Cedar Valley branch locations operating as Community Bank & Trust will be purchased by BankIowa. This includes CBT’s two branch locations in Waterloo and one branch location in Cedar Falls.
Despite the merger taking place, clients will continue to do all of their physical and online banking at Community Bank & Trust until the data processing system is converted over to BankIowa. Once the conversion is complete and effective during the first quarter of 2027, CBT’s name will officially change to BankIowa.
As of now, there are no immediate changes. Community Bank & Trust clients can continue to conduct their banking as usual. You can continue to use your current checks, deposit slips, debit and ATM cards, and your direct deposits, pre-authorized/recurring transactions and statements will continue without interruption. You can also continue to use your current online banking accounts and mobile app. BankIowa will notify you well in advance of any changes that may be required by the data processing conversion.
After the data processing conversion is completed during first quarter of 2027, clients will be converted to BankIowa branded materials. Clients will also begin to access their online banking accounts and mobile app through BankIowa’s URL and mobile app.
Throughout the months leading up to the data processing conversion and after, you will continue to receive the exceptional local client service you expect and deserve.
You will receive written correspondence from BankIowa with information and instructions regarding any actions you may need to take for your account options in advance of the data processing conversion.
BankIowa will share additional details and information regarding the acquisition in future communications. Please watch for updates from BankIowa and/or check BankIowa’s website www.bankiowa.com for all updates.
At this time, you can continue to use your current online banking accounts and mobile app. You will be notified well in advance of any changes that may be required by the data processing conversion. After the conversion is completed during first quarter of 2027, clients will access their online banking accounts and mobile app through BankIowa’s URL and mobile app. We understand the importance of online banking services and will make this transition as seamless as possible.
After the data processing conversion is completed during first quarter of 2027, clients will access www.bankiowa.com for all updates and banking needs.
No, neither Community Bank & Trust nor BankIowa will call or email you to ask for your personal, confidential information. However, if you call us, we may ask you for some of that information to simply verify your identity. Please let us know if someone calls or emails you, claiming to be from Community Bank & Trust and/or BankIowa, and asks you for personal, confidential information.
At BankIowa, you will have access to relationship-based retail/consumer and commercial banking, cash management, mortgage lending, and trust and investment services. In addition, you will enjoy local decision making, an expanded branch network and specialized agriculture financial services.
BankIowa takes pride in being extremely responsive to loan requests. They offer a variety of loan products for individuals and businesses at competitive rates. At this time, the terms and conditions of your CBT loan(s) and line(s) of credit will remain the same.
After the completed conversion, if your combined balances at BankIowa and CBT are less than $250,000, you do not need to worry or make any changes to your accounts. Alternately, if the combined total balances exceed $250,000, there is no reason to immediately withdraw money or restructure your accounts. The FDIC will continue to provide deposit insurance for up to $250,000 for each of your account ownership categories. The FDIC has a special rule that says when two banks merge, a customer’s deposits will be considered to be separately insured – as if the two banks are still operating separately, for six months. This grace period gives a depositor the opportunity to restructure his or her accounts, if necessary. However, the grace period does not apply to business or corporate accounts. Prior to making any account changes, simply reach out to your banker to discuss your options. You may be eligible for insurance coverage over $250,000 depending on the ownership structure of your accounts.
CBT is merging with BankIowa (no space), headquartered in Cedar Rapids. This is different than the Bank Iowa (with a space) based in Des Moines.
Founded in Independence, Iowa, in February 1921 as Farmers State Savings Bank, BankIowa is a proud independent and locally owned financial institution with deep roots in the region. Its early expansion added offices in Jesup and Lamont. In the late 1990s, BankIowa’s strategic expansion took them to Black Hawk County, with the acquisition of two banking facilities, one each in Waterloo and Cedar Falls. Another office in Waterloo was eventually added. The Cedar Valley has been an important market for BankIowa for nearly three decades. They further expanded into Benton and Linn counties with the purchase of Benton County Savings Bank in Norway, Iowa, in December 1997. The decision to rebrand as BankIowa in June 1998 aimed to eliminate any confusion with other "Farmers Banks" in Iowa.
Today, BankIowa is headquartered in Cedar Rapids and proudly serves additional communities in Amana, Cedar Falls, Independence, Jesup, Lamont, Marion, Norway, Rowley, and Waterloo.
Committed to localized decision-making and relationship banking, BankIowa has 13 locations, 140 employees and provides a full suite of competitive consumer, business banking (cash management, commercial, and specialized agricultural financial services), and investment and trust.
BankIowa is past recipient of accolades including Corridor Business Journal’s Coolest Places to Work Designation, Des Moines Register Iowa Top Workplace, and Corridor Business Journal Best Commercial Real Estate Lender. BankIowa and its employees contribute to numerous community organizations such as United Way, Junior Achievement, Habitat for Humanity, and 4-H. The bank is a Bauer Financial Inc.’s top performing bank with a 5 Star rating for more than 10 years consecutively.
For more information, visit BankIowa.com.