SIOUX FALLS SD (June 29 2009) – Great Western Bank has finalized its acquisition of 20 branches of First Community Bank and the Wachovia Bank N.A., branch located in Cañon City. These acquisitions establish a strong foothold for Great Western Bank’s operations in Colorado.
Along with the branches, Great Western Bank has acquired approximately $600 million in deposits and approximately $380 million in selected loans. Nationwide, Great Western Bank owns approximately $5.1 billion worth of assets in 125 locations across Arizona, Colorado, Iowa, Kansas, Missouri, Nebraska and South Dakota.
“Colorado represents real opportunities for our bank and our new customers,” said Jeff Erickson, Great Western Bank President and Chief Executive Officer. “The addition of these Colorado branches is consistent with our strategic growth plans and gives us the opportunity to leverage our financial stability and expand, particularly in the areas of consumer, business and agricultural banking. Our new customers can be confident being part of a strong, financially sound bank.”
Great Western Bank now has 22 locations in Colorado, including Boulder (2), Broomfield, Cañon City, Colorado Springs (2), Denver (4), Erie, Greeley, Fort Collins (2), Lafayette (2), Lakewood, Longmont (3) and Louisville (2).