Sunwest Bank in Andy, Utah, has agreed to buy Denver branches from Nicolet Bankshares.
The $4 billion-asset Sunwest didn’t disclose how much it would pay for the branches, which Nicolet inherited from its purchase of MidWestOne Financial Group. MidWestOne gained the locations when it acquired Denver Bancshares in 2024.
The Denver branches Nicolet acquired had about $390 million in loans and $380 million in deposits as of March 31.
The acquisition “is a significant milestone for our growth in Colorado,” Carson Lappetito, Sunwest’s president, said in a press release. “We are investing heavily in Denver and look forward to delivering the exceptional customer experience we are known for to entrepreneurs and clients in Denver and throughout the state of Colorado.”