Inside a Community Banks of Colorado branch at 3501 S. Broadway in Englewood in 2017. (Daniel Brenner/The Denver Post)
Community Banks of Colorado is getting a new name.
Its 36 branches across the state will be known as Vista Bank come summer, according to Brendan Zahl, president of Community Banks of Colorado.
The move comes after the bank’s Greenwood Village-based parent company, National Bank Holdings, finalized a deal to acquire Dallas, Texas-based Vista Bancshares last week. NBH will adopt the Vista title across nearly all of its 80 branches in the Midwest and Texas.
“For some time, we have been looking for a name that would unite our enterprise,” Zahl said in an email. “We have found that with Vista Bank.”
NBH paid $377.4 million to acquire Vista, which primarily operates in Texas and Florida. The deal, announced in September, saw Vista shareholders get $84.8 million in cash and the remainder in shares of publicly traded NBH stock.
The combined operation gives NBH $12.6 billion in assets and $10.7 billion in deposits across nine states, it said. The only bank brand that will keep its name in the acquisition is Bank of Jackson Hole in Wyoming.
“Going to a single brand will enable our clients to easily identify our locations across the states we serve, and it will enable us to serve them more efficiently,” he added. “While our name is changing, our people and our systems remain unchanged.”
NBH has the 10th-highest deposit share of banks in the Denver metro area, according to the most recent data released by the Federal Deposit Insurance Corp. The $2.2 billion it held as of June 30 represented 2.05% of the total market.
Zahl said NBH is “always looking for strategic opportunities” to expand in Colorado but did not provide more specifics.
“With the disruption occurring in the banking industry in Colorado, we are well poised to take full advantage,” he said.
NBH, which was founded in 2009, acquired Community Banks of Colorado in 2011. It moved its headquarters to Colorado shortly after, in 2012.
Inside a Community Banks of Colorado branch at 3501 S. Broadway in Englewood in 2017. (Daniel Brenner/The Denver Post)
Community Banks of Colorado is getting a new name.
Its 36 branches across the state will be known as Vista Bank come summer, according to Brendan Zahl, president of Community Banks of Colorado.
The move comes after the bank’s Greenwood Village-based parent company, National Bank Holdings, finalized a deal to acquire Dallas, Texas-based Vista Bancshares last week. NBH will adopt the Vista title across nearly all of its 80 branches in the Midwest and Texas.
“For some time, we have been looking for a name that would unite our enterprise,” Zahl said in an email. “We have found that with Vista Bank.”
NBH paid $377.4 million to acquire Vista, which primarily operates in Texas and Florida. The deal, announced in September, saw Vista shareholders get $84.8 million in cash and the remainder in shares of publicly traded NBH stock.
The combined operation gives NBH $12.6 billion in assets and $10.7 billion in deposits across nine states, it said. The only bank brand that will keep its name in the acquisition is Bank of Jackson Hole in Wyoming.
“Going to a single brand will enable our clients to easily identify our locations across the states we serve, and it will enable us to serve them more efficiently,” he added. “While our name is changing, our people and our systems remain unchanged.”
NBH has the 10th-highest deposit share of banks in the Denver metro area, according to the most recent data released by the Federal Deposit Insurance Corp. The $2.2 billion it held as of June 30 represented 2.05% of the total market.
Zahl said NBH is “always looking for strategic opportunities” to expand in Colorado but did not provide more specifics.
“With the disruption occurring in the banking industry in Colorado, we are well poised to take full advantage,” he said.
NBH, which was founded in 2009, acquired Community Banks of Colorado in 2011. It moved its headquarters to Colorado shortly after, in 2012.
