Cornerstone to buy branch in Nebraska

Cornerstone Bank, York, Neb., is buying a branch from Iowa–Nebraska State Bank, South Sioux City, Neb..The branch, which is in Wilcox, Neb., is an outlier in the Iowa–Nebraska footprint. The town is about 250 miles away from South Sioux City, where most of the bank's branches are centered..The deal includes $10 million in loans and $19 million in deposits, and is expected to close in the third quarter. It leaves Iowa–Nebraska State Bank with two branches in Nebraska. The $215 million bank also has five branches in Iowa..Kelly Holthus, chair of the $1.5 billion Cornerstone, said the bank is pleased to be expanding into the Kearney County market..Cornerstone completed a pair of Nebraska bank acquisitions last year, bringing its branch total to 36.