ANB Bank To Acquire Capital West Bank
ANB Bank has entered into a definitive agreement to acquire Capital West Bank. The $160 million Capital West Bank, headquartered in Laramie, Wyo., has banking facilities in Laramie and Cheyenne, Wyo. and Fort Collins, Colo.
The purchase will add to ANB Bank’s presence in Wyoming and will increase ANB Bank’s total assets to over $2.2 billion.
“We look forward to joining our two organizations and to continuing the tradition of providing value added products, combined with the exceptional service that both the Capital West and ANB customers deserve. A real benefit for our customers is the complementary nature of our markets and our cultures. Our teams of local bankers are decision makers who craft creative solutions and don’t rely on 1-800 numbers to solve problems,” said Koger Propst, president of ANB Bank and Sturm Financial Group. “Our size puts us right in the sweet spot of being big enough to grow with our larger customers, while remaining a community bank that cares about helping all our customers move forward.”
"We admire ANB's commitment to true community banking and look forward to combining with a local institution to create one of the strongest, most innovative community banks in our region," Kelso Kelly, CEO of Capital West Bank said in the announcement.
The acquisition, subject to regulatory and shareholder approval, is expected to close in the second half of 2014, at which time the name of the combined bank will be ANB Bank. D.A. Davidson & Co. served as financial advisor to Capital West Bank and Stinson Leonard Street LLP served as legal counsel to Capital West Bank.
With over $2 billion in assets, ANB Bank serves both business and individual customers in Colorado, Wyoming and Kansas City, and ranks in the top 6% of banks nationwide by size. ANB Bank is a true community bank, with an unwavering commitment to excellence and to helping each of its communities prosper through investment, sponsorship, philanthropy, and employee volunteerism. Its parent company, Sturm Financial Group, Inc., is headquartered in Denver, Colo. www.ANBbank.com