Financial Services Acquisitions in Iowa

Nicolet Bankshares, Inc. completed its merger with MidWestOne Financial Group, Inc., with MidWestOne merged into Nicolet and operating as a division of Nicolet National Bank until a planned system conversion in August 2026. The deal adds roughly $6 billion in assets, bringing Nicolet's pro forma assets to approximately $15 billion and expands Nicolet’s branch footprint across Iowa, the Twin Cities, Western Wisconsin, and Denver.

WealthPlan Partners, a national Registered Investment Adviser based in Omaha, acquired EFS Wealth Management Group, a Sioux City/Sioux Falls-based wealth management firm that manages approximately $360 million in client assets. EFS founder Marc Geels will join WealthPlan as Head of Private Wealth Management to build the firm's ultra-high-net-worth capability as WealthPlan expands its Midwest presence.

DFCU Financial completed the acquisition of MidWestOne Bank's Florida operations, adding branches and customers in the Naples-Marco Island and Cape Coral–Fort Myers MSAs. The move expands DFCU's field of membership into Lee, Collier and Charlotte counties and brings MidWestOne’s Florida customers and employees into DFCU.

Mercer Global Advisors, a national RIA headquartered in Denver, acquired Veerkloh, LLC d/b/a River Glen Wealth Counselors, a West Des Moines-based wealth management firm serving ~160 clients with $275 million AUM. The deal expands Mercer's presence in the central United States and brings River Glen's advisors and client relationships onto Mercer’s national platform.

JULY Business Services has acquired the recordkeeping and administration business of HTLF Retirement Plan Services, a division of Heartland Financial USA, Inc. Core HTLF recordkeeping team members (including over 20 credentialed employees) are joining JULY to maintain continuity of service while HTLF will continue as advisor and 3(38) investment fiduciary. The deal expands JULY's capabilities and client service model as it grows its national retirement plan platform.

Savant Wealth Management acquired Iowa-based World Trend Financial (an RIA with $730 million AUM) and accounting/tax firm Terry Lockridge & Dunn, both based in Cedar Rapids with offices in Iowa City. The deals add 37 employees (including 13 new member-owners) and expand Savant's Midwest presence while strengthening its tax and consulting capabilities.

First Mercantile Trust Company, a subsidiary of EdgeCo Holdings, has completed the acquisition of American Trust Retirement from American Trust & Savings Bank. The deal brings ATR's recordkeeping, collective investment trust, and discretionary trustee capabilities into EdgeCo's retirement platform to expand national coverage, capabilities, and service offerings for financial intermediaries and small- to mid-market plan sponsors.