La Junta-based Colorado Bank & Trust Co. is acquiring two branches in the southwestern part of the state from Denver-based InBank.
The deal is expected to close later this year, and include InBank branches in Lamar and Wiley.
InBank President and CEO Ed Francis said his bank “will continue to pursue its strategy of serving and growing its other markets along the Colorado Front Range, Southern Colorado and Northern New Mexico.”
Colorado Bank & Trust announced earlier this year its pending acquisition of InBank’s branch in the central Colorado city of Buena Vista.
“We are looking forward to expanding our presence in the Arkansas River Valley by supporting local farmers, businesses and residents alike, and building meaningful connections with the Lamar and Wiley communities,” added Tony Jones, president and CEO of Colorado Bank & Trust.
InBank to open local branch
InBank will open a branch in Superior, Colo., later this summer, replacing its existing branch in Boulder, Colo. The $1.4 billion bank named Andrew Sauer market president. Sauer has nearly 25 years of financial services experience, four years of which with InBank.
Sauer played a crucial role in opening the bank’s Boulder branch and led treasury management sales for the Boulder and North Metro regions. He was previously vice president of treasury management for Citywide Banks and led sales and marketing for Las Vegas-based de novo Town and Country Bank.