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DES MOINES, Iowa – Hawkeye State Bank, which made headlines in January when the University of Iowa Community Credit Union (UICCU) tried to purchase it and wound up touching off an attempt by state bankers to tax CUs in the state, has a new owner. The bank was bought by West Des Moines-based West Bank for an estimated $35 million. The deal marks the first time West Bank has acquired an entire bank, according to banking regulators. UICCU’s attempts to buy Hawkeye were thwarted when the head of the credit union division for the Iowa Department of Commerce rejected the CU’s bid on Feb.11 stating the credit union didn’t have enough capital to buy the bank and meet regulatory requirements. It would have been the first time a credit union acquired a bank and merged it into the credit union. UICCU is the fourth largest in the state with more than 38,000 members and nearly $300 million in assets.

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