The story
The bank was created from capital from Iwate prefecture in the wake of a 1932 banking crisis that affected other regional banks, including the Morioka Bank. Originally established as the Iwate Shokusan Bank, the bank changed its name to its current form in 1960.
During the bubble economy era of the late 1980s, the Bank of Iwate was known for its sound lending practices, and as a result, was relatively stable during the period following the collapse of the bubble. While the bank has dropped in its rankings in recent years, it is said to maintain high standards. The bank has recently diversified, offering insurance and securities services for customers.
On October 2, 2026, Bank of Iwate, Akita Bank and Procrea Holdings, the parent company of Aomori Michinoku Bank, announced that they would begin discussions on a business integration targeting April 2028. The lenders cited regional population decline and increasing investment requirements as reasons for the proposed integration.
From Wikipedia’s article on Bank of Iwate, shared under CC BY-SA 4.0.5