Hills Bank to Acquire Iowa City Property for $20.7 Million to Consolidate Operations

About this update from Hills Bancorporation

Hills Bank entered into an Agreement of Purchase and Sale to acquire approximately 19.2 acres at 200 and 500 ACT Drive in Iowa City for $20.7 million. The property will be used to consolidate operational teams and support long-term needs, while the company’s headquarters remains in Hills, Iowa. The deal is subject to customary real estate conditions, including regulatory approvals, with closing targeted for the first quarter of 2027.Agreement details:Agreement type: Agreement of Purchase and Sale for approximately 19.2-acre propertyCounterparty: JNB CampusSigned / Effective: May 11 2026 / sameReason: Consolidate operations and support long-term needsOriginal SEC Filing: This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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