Encyclopedia Dubuque
"Encyclopedia Dubuque is the online authority for all things Dubuque, written by the people who know the city best.”
Marshall Cohen—researcher and producer, CNN
Affiliated with the Local History Network of the State Historical Society of Iowa, and the Iowa Museum Association.
HAWKEYE BANCORPORATION
HAWKEYE BANCORPORATION. In the mid-1980s, Hawkeye Bancorporation was plagued with huge debt. Regulators placed restrictions on expansion as the bank struggled through reorganization. The bank emerged from its problems in 1991 a year ahead of schedule and the restrictions were removed. (1)
Hawkeye returned quickly to expansion. In early 1992 it announced the acquisition of First State Bank of Mount Ayr and City National Bank of Cedar Rapids. The announcement of the acquisition of FIRST NATIONAL BANK OF DUBUQUE was Hawkeye's third takeover in five months. With these mergers, the $1.4 billion bank holding company was expected to grow to $1.8 billion. (2)
Hawkeye Bancorporation's acquisition of the First National was finalized on May 3, 1993, with the exchange of approximately $45 million in stock. With an estimated $318 million in assets, First National became the latest bank in the Hawkeye network which included twenty-four Iowa banks. Hawkeye was the third-largest banking company in Iowa after Norwest of Minneapolis and Firstar Corp of Milwaukee. (3)
The renamed Hawkeye Bank of Dubuque was purchased in 1996 and became MERCANTILE BANK OF DUBUQUE.
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Source:
1. "First National 3rd Hawkeye Deal in '92." Telegraph Herald, August 30, 1992, p. 3A
2. Ibid.
3. Ibid.