First Western Financial, through its wholly-owned subsidiary First Western Trust Bank (FWTB), has acquired deposits, loans and other assets of four Simmons Bank locations in Denver, the US.

Under the deal terms, FWTB acquired three branches and one loan production office with nearly $119.8m in purchased loans and $67.4m in assumed deposits.

The Colorado-headquartered bank will convert all three branches to First Western offices and will shut the loan production office located in Denver.

The three branches are located in Englewood, Highlands Ranch, and Lone Tree in Colorado, US.

The bank intends to retain the Lone Tree branch and further consolidate the other two branches into its private banking offices in the future.

It will also acquire Simmons Bank customers associated with these locations.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The Simmons Bank customers have been provided with a welcome kit containing information about changes to their banking accounts, lending accounts, cards, checks, CDs, and other relevant details.

First Western chairman and CEO Scott Wylie said: “I am so proud of our associates, who have worked tirelessly to ensure the successful closure of this important transaction for First Western Trust and our new clients.

“This transaction will add to the growth and diversification of our franchise and deepen our presence in our core Denver market.”

Founded in 2002, First Western provides personal banking, commercial banking, wealth, and investment management services to its clients in Colorado.