Hills Bancorporation buys 19.2 acres in Iowa City for $20.7M to consolidate operations

HILLS BANCORPORATION

Purchase price $20,700,000 for 19.2 acres on former ACT campus in Iowa City.
Property includes ACT Ferguson and Davidsen Buildings; closing targeted for Q1 2027.
Hills Bank to consolidate operational teams at single location; HQ remains in Hills, Iowa.
Bank plans to lease excess space and explore community-oriented uses.
Transaction subject to regulatory approvals and standard real estate conditions.

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