Pinnacle Bancorp to acquire AmFirst Bank
Pinnacle Bancorp Chairman Sid Dinsdale announced this week the signing of an agreement for Pinnacle Bancorp to acquire AmFirst Bank located in Nebraska and Colorado, a wholly owned subsidiary of AmFirst Financial Services Inc.
“We are excited to welcome AmFirst Bank to the Pinnacle Bancorp family,” Dinsdale said. “We look forward to continuing to grow our relationships in Nebraska and Colorado.”
AmFirst Bank has total assets of $260 million with three operating locations in Nebraska including McCook, Hayes Center and Benkelman, and two operating locations in Colorado, including Greenwood Village and Longmont.
Pinnacle Bancorp has a total of 61 locations in Nebraska as Pinnacle Bank and 39 locations in Colorado as Bank of Colorado. Pinnacle Bank and Bank of Colorado will jointly acquire AmFirst Bank’s branches in their respective states.
“We have been impressed with Pinnacle Bank’s and Bank of Colorado’s approach to their customers and communities,” AmFirst Bank Chairman and CEO Van Korell said. “Pinnacle Bancorp is a great organization that will continue to support the development of our communities.”
The transaction is anticipated to close in July pending regulatory approval. Financial details of the transaction were not disclosed.
Family-owned since 1938, Nebraska-based Pinnacle Bancorp, Inc., is an $9.7 billion financial holding company operating over 140 community banks in seven states including 61 locations in Nebraska and 39 locations in Colorado.
Pinnacle Bank in Imperial is one of their Nebraska locations.