National Bank Holdings Corporation announced it has now received all regulatory approvals from the Federal Reserve Board, the Utah Department of Financial Institutions, and the Colorado Division of Banking for the previously announced acquisition of Community Bancorporation, the holding company for Rock Canyon Bank. The acquisition is subject to customary closing conditions and is expected to close in September 2022.
Latest Fintech News: Huawei Cloud Everything as a Service for Smart Finance
“We are pleased to have received the required regulatory approvals and look forward to closing this acquisition in the coming weeks,” said Tim Laney, CEO of National Bank Holdings Corporation. “Our teams have been working together to ensure a smooth transition for our clients. Our systems conversion is scheduled for the fourth quarter 2022 and remains on track. We look forward to welcoming Rock Canyon Bank associates and clients to the NBH family and to further our presence and commitment to the greater Salt Lake City region.”
The transaction adds approximately $809.7 million in total assets, including $476.2 million in total loans and $727.7 million in total deposits, as of March 31, 2022. Following the completion of the acquisition, the Company expects to have approximately $8.0 billion in pro-forma assets, including $5.3 billion in total loans and $6.9 billion in total deposits across the attractive markets of Utah, Colorado, Texas, Kansas, Missouri, and New Mexico.
Latest Fintech News: Financial Partners Credit Union Selects Upstart for Personal Lending
National Bank Holdings Corporation is a bank holding company created to build a leading community bank franchise delivering high quality client service and committed to stakeholder results. Through its bank subsidiary, NBH Bank, National Bank Holdings Corporation operates a network of 81 banking centers, serving individual consumers, small, medium and large businesses, and government and non-profit entities. Its banking centers are located in its core footprint of Colorado, the greater Kansas City region, Texas, Utah and New Mexico. Its comprehensive residential mortgage banking group primarily serves the bank’s core footprint. NBH Bank operates under a single state charter through the following brand names as divisions of NBH Bank: in Colorado, Community Banks of Colorado and Community Banks Mortgage; in Kansas and Missouri, Bank Midwest and Bank Midwest Mortgage; and in Texas, Utah and New Mexico, Hillcrest Bank and Hillcrest Bank Mortgage.
Latest Fintech News: Unblu Brings Conversational Banking with a Human Element to Banno’s Digital Banking Platform
[To share your insights with us, please write to sghosh@martechseries.com]
