Triumph to buy Colorado bank

Triumph Bancorp, Dallas, will buy ColoEast Bankshares, Lamar, Colo., for $70 million in an all-cash deal..The $759 million ColoEast's Colorado East Bank & Trust has 18 branches and one loan production office located throughout Colorado and far western Kansas.."Triumph's acquisition of ColoEast Bankshares, Inc. will provide immediate and long-term benefits to both of our organizations," said Aaron P. Graft, vice chairman and CEO of the $1.7 billion Triumph Bancorp. "We are excited to welcome the customers and staff of Colorado East Bank & Trust to the Triumph Bancorp group of companies.".Pending approval from ColoEast shareholders, the transaction is expected to close in the third quarter of 2016..Triumph Bancorp, Inc. was advised in this transaction by Wachtell, Lipton, Rosen & Katz as legal counsel. Performance Trust, LLC rendered a fairness opinion to the Board of Directors of ColoEast Bankshares, Inc. in connection with this transaction. Bieging, Shapiro & Barber acted as legal counsel to ColoEast Bankshares, Inc.