Texas-based Independent Bank is closing eight branches in Colorado in the wake of its acquisitions of Denver-based Guaranty Bank & Trust and Northstar Bank, Denton, Texas.
The move will “reduce overlap of brick and mortar operations, while keeping the organization well-positioned to support existing customers and future growth,” the bank said in a statement.
The branches are Loveland (Eagle), Loveland (East), Greeley (W. 9th), Colorado Springs (Westside), Fort Collins (Timberline), Castle Rock (500 N. Wilcox), DTC – Englewood (Belleview) and Littleton (Ken Caryl).
The McKinney-based Independent Bank is also closing four branches in Texas. It will have 34 offices in Colorado and 67 in Texas after the closings.
All except the Castle Rock location will close May 31; the Castle Rock office will close sometime in the fourth quarter.
“By streamlining our presence, we increase our ability to give back and channel our resources,” said David Brooks, chair and CEO of the $9.8 billion Independent Bank. “The bank will continue to deepen relationships, while being as efficient as possible in serving our customers.”
Independent acquired Guaranty in January 2019 and Northstar in April 2017.