Osceola County's only locally owned bank will change hands later this year.

Vogel Bancshares, Inc. (Iowa State Bank), announced this month that it has entered into a definitive agreement to acquire Melvin Savings Bank from Benz Holding Co. Pending the receipt of regulatory approval, the merger is anticipated to close during the third quarter of 2021.

Iowa State Bank has eight locations in northwest Iowa: Hull, Ireton, Le Mars, Orange City, Paullina, Remsen, Sanborn and Sheldon. Its history dates back to 1879 and has more than $700 million in assets.

Melvin Savings Bank operates two location...