FI First Home Bank Closes Acquisition of Colorado's Stockmens Bank.
M2 EQUITYBITES-August 4, 2017-FI First Home Bank Closes Acquisition of Colorado's Stockmens Bank
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4 August 2017 - Missouri, US-based FI First Home Bank and Colorado, US-based Stockmens Bank have closed a merger announced in March, the companies said.
The transaction occurred in two parts.
Initially, First Bancshares, Inc., the parent company of First Home Bank, purchased Stockmens Bank in an all-stock transaction.
Second, First Home Bank was merged into Stockmens Bank resulting in FBSI owning one Colorado bank operating as Stockmens Bank in Colorado, State Bank of Bartley in Nebraska and First Home Bank in Missouri.
R. Bradley Weaver will continue to be chairman and CEO of First Home Bank and Robert M. Alexander will remain chairman and CEO of Stockmens Bank. Alexander will become chairman of FBSI.
First Home Bank is a community bank with USD 219m in assets and eight branch locations in Southwest Missouri.
Weaver has served as president, CEO and chairman since joining the bank in 2011.
First Home Bank is a wholly owned subsidiary of First Bancshares, Inc., which is headquartered in Mountain Grove, Missouri.
Stockmens Bank is a USD 114m Colorado bank with two branches located in Colorado Springs and Bartley, Nebraska. Stockmens Bank was originally founded as the State Bank of Bartley in 1897.
Alexander took control of the Bank in 2008 and opened the Stockmens Bank location in Colorado Springs at that time.
The charter was moved from Nebraska to Colorado in 2014. Alexander has been a director of First Home Bank and FBSI since 2015 and has been a FBSI shareholder since 2007.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Aug 4, 2017|
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