Mount Ayr Record-News
Mount Ayr, Ringgold County, Iowa
Thursday, October 09, 2014, Page 1

Great Western Bank, with a branch in Mount Ayr, is for sale.

National Australia Bank, Ltd., (NAB) of which Great Western is a subsidiary, announced recently that it will sell a minority stake in the South Dakota-based bank in an initial public offering (IPO) on the New York Stock Exchange sometime in the second quarter of next year. NAB has owned the regional lender since 2007.

A day after the announcement of the IPO, NAB indicated it would likely divest itself of all Great Western interests sometime following the public offering.

Analysts estimate the value of Great Western at between $1.4 billion and $2 billion.

Great Western has 162 branches in seven states, including South Dakota, Iowa, Nebraska, Colorado, Arizona, Kansas and Missouri.

Transcription by Sharon R. Becker, January of 2015