Guaranty Bank acquires Castle Rock Bank
Information provided by Guaranty Bank
The holding company for Guaranty Bank and Trust Company announced in June the signing of a definitive agreement to acquire the holding company for Castle Rock Bank. Following the closing of the transaction, Castle Rock Bank will be merged into Guaranty Bank and Trust and all Castle Rock Bank branches will operate under the Guaranty Bank and Trust name.
“We are pleased to welcome a high quality franchise like Castle Rock Bank with its solid core deposit base and excess liquidity to the Guaranty Bank organization,” said Paul W. Taylor, President and Chief Executive Officer of Guaranty Bancorp. “This acquisition strengthens our position as one of the premier community banks headquartered in Colorado. Castle Rock Bank customers will continue to enjoy the exceptional service and local decision-making that a community bank provides. They will also have more locations along the Front Range to transact their business and enhanced service offerings including an expanded suite of Wealth Management and Treasury Management solutions to help them reach their financial goals.”
Paul Taylor will continue to serve as president and chief executive officer of Guaranty Bancorp and chairman of the board and chief executive officer for Guaranty Bank and Trust. Tom Miller has announced his plans to retire to spend more time with his family, and DJ Tedesco will serve as the market president for Guaranty Bank in Castle Rock and Castle Pines.
“Guaranty Bancorp shares our community banking values and was the ideal partner for us,” stated Tedesco, president of Castle Rock Bank. “We are pleased to be joining a strong locally-managed bank that enables us to offer our customers expanded products and services while maintaining a high level of personalized service along with local decision making.”
The deal is subject to normal regulatory approvals and customary closing conditions and is expected to close in the first quarter of 2018. To learn more about Guaranty Bancorp, visit www.gbnk.com.