Associated Press - July 8, 2009 4:25 PM ET

TALMAGE, Neb. (AP) - A rural southeast Nebraska bank is being sold.

Lora Damme, president and principal owner of Tri Valley Bank in Talmage, says a Nebraska-based group is buying her bank.

Damme declined to disclose the terms of the deal.

Pending regulatory approval, the sale is expected to close within 60-90 days.

The bank, which is also known as Talmage Banking Center, has about $5 million in assets and four employees. The bank is a community bank that supports area farmers.

Damme says she decided to sell because she has several other businesses and wants to simplify her life. Two other banks Damme co-owns in Randolph and Essex, Iowa are not being sold.

Information from: KNCY-AM, http://www.kncycountry.com

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