Mutual of Omaha Bank has reached an agreement to sell five Colorado
Front Range branches to Denver-based CIC Bancshares, Inc., the companies
Pending receipt of regulatory approval and the satisfaction of certain
other conditions, Mutual of Omaha Bank branches in Idaho Springs,
Evergreen, Conifer, Nederland and Golden will become branches of
The transition, which is expected to occur in October, will be seamless
for customers, as deposits and loans associated with the branches will
be transitioned to Centennial Bank. It will be business as usual until
the transition, and customers will be notified in advance of any changes.
In addition, employees of the impacted branches will transition to
The transaction is strategic for both institutions, as Mutual of Omaha
Bank focuses on its multi-faceted Banking Center in the Denver Tech
Center while CIC is actively building a banking network throughout the
Front Range and select Colorado mountain communities.
“Mutual of Omaha Bank is committed to the Colorado market, and through
our new Banking Center in the Denver Tech Center we are well-positioned
to serve our commercial, mortgage, homeowner association and individual
clients,” said John Krusoe, Mutual of Omaha Bank West Region President.
“We are excited about this opportunity to expand our banking network in
the Front Range of Colorado and selective Mountain communities,” stated
Kevin Ahern, Chairman and CEO of CIC Bancshares, Inc. “Mutual of Omaha
Bank has an outstanding reputation for taking care of their customers
and employees, and we are committed to continue that tradition. We
believe this is a win-win transaction for Mutual and Centennial and we
will work together to ensure a smooth and successful transition.”
The five locations included in the transaction were originally acquired
by Mutual of Omaha Bank in 2007, when it purchased Peak National Bank of
River Branch Capital LLC served in an advisory capacity to the parties
in the transaction.
About Mutual of Omaha Bank
Mutual of Omaha Bank is a
full-service bank providing financial solutions to individuals and
businesses across the United States. With nearly $7 billion in assets,
Mutual of Omaha Bank is a subsidiary of Mutual of Omaha, a Fortune 500
insurance and financial services company founded in 1909. For more
information about Mutual of Omaha Bank, visit www.mutualofomahabank.com.
About CIC Bancshares, Inc.
CIC Bancshares, Inc. is a
Colorado-based bank holding company focused on acquiring and developing
banking and financial services assets in Colorado and the Rocky Mountain
West. Our strategy is backed by decades of combined experience in
executive management, navigating the regulatory environment, developing
and executing capital plans, mergers and acquisitions, and growing and
managing bank and other financial services.For more information,
Mutual of Omaha Bank:
Jim Nolan, 402-351-2944
Hogan, Barefoot PR, 720-515-4282
Source: Mutual of Omaha Bank