An Iowa City-based financial institution announced May 1 that it has completed the acquisition of a Dubuque-based bank holding company.

MidWestOne Financial Group Inc. now owns ATBancorp, the parent company of American Trust & Savings Bank and American Bank & Trust Wisconsin. "Immediately following completion of the acquisition," those banks were merged into MidWestOne Financial Group subsidiary MidWestOne Bank, according to a press release issued this morning.

It stated that the value of the transaction was about $152.9 million — 10% less than the $170.3 million value that officials reported when the merger first was announced in August.

MidWestOne now has more than $4.7 billion in assets and 62 branches in Colorado, Florida, Iowa, Minnesota and Wisconsin.

Read more in the Dyersville Commercial.