The Bank Slate


Cache Bank in Colo. to sell to Mountain Valley

Mountain Valley Bank in Walden, Colo., has agreed to buy Cache Bank & Trust in Greeley, Colo.

The $318 million-asset Mountain Valley said in a press release Friday that it will buy substantially all the $111 million-asset Cache’s deposits, loans and branches in Greeley and Fort Collins. Mountain Valley did not disclose the price it will pay.

The deal is expected to close in the fourth quarter.

Cache originally agreed to be sold to Elevations Credit Union in Boulder, Colo., in September 2019 but Colorado banking regulators blocked the deal.

“We are pleased to add these communities to our Mountain Valley Bank operations and we are excited to continue delivering the exceptional customer service the customers of Cache Bank & Trust have always received,” Wade Gebhardt, Mountain Valley’s president, said in the release.

“Our companies share the same belief that people are at the center of how we do business,” Gebhardt added. “The synergy of like beliefs paired with additional forms and delivery of services will be an added benefit to their customers.”

GLC Advisors and Lewis Roca Rothgerber Christie advised Mountain Valley. Spierer Woodward Corbalis Goldberg advised Cache.

Leave a Reply

Your email address will not be published. Required fields are marked *