BANKS OF IOWA <BIOW> PRIVATELY PLACES STOCK
Banks of Iowa Inc <biow> said
it has sold 254,608 common shares at 51.50 dlrs each to a group
of institutional investors through a private placement.
    In connection with the stock sale, the company said, it
reserved the right to sell privately up to an additional
133,741 common shares at the same price before March 28.
    It said the Chicago Corp acted as placement agent for this
transaction.
    Banks of Iowa had 2.2 mln shares outstanding prior to the
sale, a spokesman said.                
 Reuter
