Academy Bank, N.A. and its parent, Dickinson Financial Corporation, have entered into a definitive agreement to acquire Westminster, Colorado-based Mountain View Bank of Commerce.
KANSAS CITY, Mo. and WESTMINSTER, Colo., June 4, 2024 /PRNewswire-PRWeb/ -- Academy Bank, N.A. and its parent, Dickinson Financial Corporation, have entered into a definitive agreement to acquire Westminster, Colorado-based Mountain View Bank of Commerce (MVBC).
The deal expands Academy Bank's already significant presence in the Colorado market with a Westminster branch and a Boulder loan production office. "We are excited to bring MVBC into the Academy Bank team. This acquisition strengthens our commercial and business banking capabilities and bolsters our presence in North Denver and Boulder, as we continue to build out our footprint in key Colorado markets," said Paul Holewinski, Chief Executive Officer of Academy Bank. Post closing, Academy Bank will have 28 branches and over $725 million in deposits throughout Colorado.
Andy Ellison, President and CEO of Mountain View Bank of Commerce stated, "We are excited about the innovative technology, branch network, and product set that combining with Academy Bank will bring to our clients."
With over $2.7 billion in assets, Academy Bank, N.A. is headquartered in Kansas City, Missouri and serves clients online and in 72 locations across four states—AZ, CO, KS and MO. Branches include in-store Walmart locations, business banking hubs, tech-forward community branches, and Express Interactive Teller Machines. Academy provides a wide range of financial solutions to businesses and individuals, including commercial and small business lending, treasury management, and mortgage services.
The transaction is expected to close in the fourth quarter 2024.
Olsen Palmer LLC acted as financial advisor to MVBC and Stinson LLP served as its legal advisor in the transaction. Fenimore Kay Harrison LLP acted as legal advisor to Academy Bank.
About Academy Bank
Academy Bank's corporate headquarters is located in Kansas City, Missouri and commercial banking locations are found in Arizona, Arkansas, Colorado, Kansas, and Missouri. Academy provides a wide range of financial solutions to businesses and individuals, through the latest banking technologies. With a branch network of more than 72 banking centers and growing, Academy Bank grows deposits organically, one person, one household, and one business at a time. Academy Bank is privately held and family-owned by Dickinson Financial Corporation (DFC), a bank holding company with over $4 billion in assets and a strong capital base. DFC has two separately chartered banks—Academy Bank and Armed Forces Bank—offering clients an easy way to diversify their own banking relationships under a single umbrella.
About Mountain View Bank of Commerce
Mountain View Bank of Commerce is a community bank specializing in financial solutions, including personal and business accounts and commercial loans, to meet the needs of small businesses, individuals and the non-profit sector. Mountain View serves its clients with whatever challenges they may be facing by using an entrepreneurial spirit, broad based experience, and a consultative approach. Mountain View's approach is reflected in the steady, strong growth to over $188 million in assets.
Media Contact
Paul Holewinski, Academy Bank, N.A., (816) 412-6082, [email protected], https://www.academybank.com/
Andy Ellison, Mountain View Bank of Commerce, (303) 243-5401, [email protected], https://www.mvbofc.com/
SOURCE Academy Bank, N.A.
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