Lauritzen Corp. has agreed to buy Western States BanCorp. in Laramie, Wyo.
Lauritzen, the parent of the $25.7 billion-asset First National Bank of Omaha, did not disclose the price it will pay for the $542 million-asset Western States. The deal is expected to close in the first quarter.
Western States has 10 branches and $486 million of deposits in northern Colorado, western Nebraska and southeastern Wyoming.
First National “has a long, proud history of merging with financial institutions that share similar core values, ways of doing business and approaches to serving customers and communities,” Clark Lauritzen, chairman and president of the company that bears his name, said in a statement on the bank’s website.
Western States “complements these ideals, and we’re excited for the possibilities to expand our banking services into Wyoming while enhancing our presence in northern Colorado and western Nebraska,” Lauritzen added.
Piper Sandler and Kutak Rock advised First National. Olsen Palmer and Baird Holm advised Western States.