Availa Bank plans to purchase three bank branches from First American Bank, the two companies announced in a joint statement Thursday.

Availa Bank will assume operations of First American Bank branch offices in Ames, Ankeny and Sioux City.

According to Jeff Scharfenkamp, president and chief executive officer of Availa, all existing employees of those offices are expected to join the Availa team.

That includes David Hagen, senior vice president from the First American Bank Ames office, and Lawrence Jensen, market president from the First American Bank Sioux City office, he said.

“We look forward to fostering the relationships that David, Lawrence, and their teams formed with these communities and we are committed to providing them with the level of service and products they have come to know and expect.”

Availa Bank is headquartered in Carroll.

First American Bank is headquartered in Fort Dodge.

“Availa is a longstanding Iowa bank with roots dating back to 1870,” Scharfenkamp said. “We are excited about the opportunity expand our footprint and serve the communities of Ames, Ankeny, and Sioux City.”

Scharfenkamp added, “Availa is dedicated to providing comprehensive banking products with the highest level of service to customers.”

In 2017, Availa acquired First American Bank offices in Webster City, Jewell and Roland.

“Since then, we have maintained a dialogue and when this opportunity arose, it seemed like it was a good fit for both sides,” Scharfenkamp said.

John A. Fisher, president and CEO of First American Bank, said the company has been proud to serve its communities.

“Availa has an extensive history of community banking in Iowa and we are confident that our Ames, Ankeny, and Sioux City customers will benefit from their commitment to relationship banking,” Fisher said. “The sale of these branches allows First American Bank to focus on strategic initiatives including increasing shareholder value through operational efficiencies, increased earnings, and strengthening the balance sheet.”

The transaction is subject to regulatory approval. It is anticipated to close in June.