GLENWOOD SPRINGS — ANB Bank has entered into an agreement to acquire Capital West Bank. The $160 million bank, headquartered in Laramie, Wyo., has facilities in Laramie and Cheyenne, Wyo. and Fort Collins. The purchase will add to ANB Bank’s presence in Wyoming and Colorado and will increase the bank’s total assets to more than $2.2 billion.
“It’s very exciting to see the growth in our communities,” said Vance Wagner, regional president of ANB Bank. “As an organization, we are pleased to be expanding our footprint further with the upcoming acquisition of another community-focused bank, Capital West Bank. It is another good step forward for us. Our size puts us right in the sweet spot of being big enough to grow with our larger customers, while remaining an independent-community bank.”
“We admire ANB’s commitment to true community banking and look forward to combining with a local institution to create one of the strongest, most innovative community banks in our region,” Kelso Kelly, CEO of Capital West Bank said in the announcement.
The acquisition, subject to regulatory and shareholder approval, is expected to close during the second half of 2014, at which time the name of the combined bank will be ANB Bank.
ANB Bank serves both business and individual customers in Colorado, Wyoming and the Kansas City market, and ranks in the top 6 percehnt of banks nationwide by size. Its parent company, Sturm Financial Group, Inc., is headquartered in Denver. For more information, go to www.ANBbank.com.