Parkside Financial expanding in Colorado with First American deal

Parkside Financial in St. Louis, Mo., has agreed to buy First American Bancorp in Greenwood Village, Colo.

The $1.1 billion-asset Parkside said in a press release that it expects to buy the $277 million-asset First American in a cash-and-stock transaction expected to close in the fourth quarter. The price wasn’t disclosed.

“First American has built a strong legacy of relationship-based banking in Colorado,” James Wagner, co-founder and CEO of Parkside Financial, said in the release. “By bringing our organizations together, we can deliver a more comprehensive and seamless experience backed by expanded resources and capabilities.”

Parkside initially entered the Denver market in 2019 with a loan-production office, which became a full-service location last year.