Denver-based National Bank Holdings Corp. announced July 21 that it secured all regulatory approvals to buy the Provo, Utah-based Rock Canyon Bank.
The transaction is expected to close in September. The transaction adds nearly $810 million in total assets, including $476 million in total loans and $727 million in total deposits.
Following the merger, National Bank Holdings will have approximately $8 billion in pro-forma assets, including $5.3 billion in total loans and nearly $7 billion in deposits in Utah, Colorado, Texas, Kansas, Missouri and New Mexico. National Bank Holdings is the holding company for Greenwood Village, Colo.-based NBH Bank.
“Our teams have been working together to ensure a smooth transition for our clients,” said National Bank Holdings CEO Tim Laney. “Our systems conversion is scheduled for the fourth quarter 2022 and remains on track.”
Park Roney, chair of Rock Canyon Bank and president and CEO of Community Bancorporation, said when the deal was announced in April that his organization is “pleased to have found a partner in NBH Bank that shares our commitment to serving local businesses by providing highly personalized service that supports our clients’ and our communities’ success.”