Kansas City’s Academy Bank to acquire Colorado bank

Kansas City, Mo.-based Academy Bank will acquire Westminster, Colo.-based Mountain View Bank of Commerce later this year.

The acquisition of the Denver-area bank, which includes a branch in Westminster and an LPO in Boulder, increases Academy Bank’s presence in the state to 28 branches and $725 million in deposits. The $2.7 billion Academy Bank bank has a combined 72 branches in Arizona, Colorado, Kansas and Missouri.   

“This acquisition strengthens our commercial and business banking capabilities and bolsters our presence in North Denver and Boulder, as we continue to build out our footprint in key Colorado markets,” said Academy Bank CEO Paul Holewinski. 

“We are excited about the innovative technology, branch network and product set that combining with Academy Bank will bring to our clients,” added Mountain View Bank of Commerce President and CEO Andy Ellison.

Washington, D.C.-based investment bank Olsen Palmer LLC was financial adviser to Mountain View Bank of Commerce, and Kansas City, Mo.-based law firm Stinson LLP was its legal adviser. Austin, Texas-based law firm Fenimore Kay Harrison LLP was legal adviser to Academy Bank.