Elevations Credit Union (Boulder, CO) has announced its intention to acquire the assets of Cache Bank & Trust (Greeley, CO).
Elevations CU has almost $2.1 billion in assets. Cache Bank & Trust has $121.7 million in assets and three locations in Denver, Fort Collins, and Greeley, Colorado.
It is anticipated that the acquisition will be finalized in the first quarter of 2020 with full integration of the two organizations by the third quarter of 2020. The acquisition is subject to regulatory approval.
The price tag of the deal was not disclosed.
This deal will be the first community bank in Colorado to be acquired by a credit union.
Press release can be found here.
No comments:
Post a Comment