Sunflower Financial, Inc. signed a definitive agreement to acquire First Western Financial, Inc. from Crawley Ventures.
September 23, 2014 at 12:00 am EDT
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Sunflower Financial, Inc. signed a definitive agreement to acquire First Western Financial, Inc. from Crawley Ventures and others in stock on September 23, 2014. The combined bank will be headquartered in Denver. Mollie Hale Carter, Chairman and Chief Executive Officer of Sunflower, will serve as Executive Chairman of the holding company. Scott Wylie, Chairman and Chief Executive Officer of First Western, will be the Chairman and Chief Executive Officer of the combined bank and investment management subsidiary, as well as Chief Executive Officer and President of the holding company.
The combined Board of Directors will be made up of select legacy Sunflower Directors, select legacy First Western Directors, and new Directors appropriate for the new institution's strategic focus and direction. The transaction has been unanimously approved by the Board of Directors of both Sunflower and First Western and is expected to close in the first quarter of 2015, subject to shareholder and regulatory approval and other customary conditions. The transaction was approved by Colorado Division of Banking on January 15, 2015.
Keefe Bruyette & Woods, Inc. acted as a financial advisor to Sunflower Financial, Inc. and First Western Financial, Inc. Raymond James Financial, Inc. provided a fairness opinion to First Western, Nelson Mullins Riley Scarborough, LLP acted as a legal advisor to Sunflower Financial, Inc. and Hogan Lovells acted as a legal advisor to First Western Financial, Inc.
FirstSun Capital Bancorp is a financial holding company. The Company provides a full spectrum of deposit, lending, treasury management, wealth management and online banking products and services through its two wholly owned subsidiaries, Sunflower Bank, National Association (the Bank), Logia Portfolio Management, LLC and FEIF Capital Partners, LLC. The Bank offers a range of specialized financial services to business customers as well as relationship-focused services for its customers and has a branch network in Texas, Kansas, Colorado, New Mexico, Arizona and Washington, as well as mortgage banking capabilities in 43 states. Its product line includes commercial loans and commercial real estate loans, residential mortgage and other consumer loans, a variety of commercial, consumer and private banking deposit products, including noninterest-bearing accounts, interest-bearing demand products, money market accounts and certificates of deposit and treasury management products and services.