Sunflower Financial and Strategic Growth Bancorp Announce Receipt of Final Regulatory Approvals
Kansas-based Sunflower Financial, Inc. (“Sunflower”) and Texas-based Strategic Growth Bancorp Incorporated (“SGB”) are pleased to announce the receipt of the required regulatory approvals for the merger of the holding companies and a merger of their respective banking entities, Sunflower Bank N.A., First National Bank of Santa Fe, and Capital Bank, SSB, as well as Guardian Mortgage Company, Inc. The transaction was previously announced and is expected to close on June 19, 2017.
“We look forward to building upon the specialized strengths of each of these organizations. In this strategic merger, we will be able to enhance the innovative financial solutions we bring to our clients,” said Mollie Hale Carter, Chairman and CEO of Sunflower. “We have long believed that community banking plays an important role in the financial system, and we will continue to bring enhanced products and services to strengthen our personal and community relationships.”
William P. (Pablo) Sanders, Chairman of First National Bank of Santa Fe and Capital Bank added, “We look forward to the benefits a greater capital base and expanded services will bring to our clients and our communities. In addition, the integration of our people and processes is designed to remain loyal to our community heritage, retaining our focus on quick resolution and locally informed decisions.”
Upon closing, the banking entities will operate as Sunflower Bank in Colorado, Kansas and Missouri and as First National 1870, a division of Sunflower Bank in New Mexico and Texas. These names were selected to honor the legacy of the combined banks’ longstanding heritage in its markets. Both Guardian Mortgage and Logia Portfolio Management will retain their trade names. The combined holding company will be named FirstSun Capital Bancorp. Its corporate headquarters will be in Denver, making it the third largest banking institution by total assets headquartered in Colorado.
Sunflower Financial, Inc. is a bank holding company with $1.9 billion in total assets, $1.5 billion in deposits and $188 million of equity capital as of December 31, 2016. Headquartered in Salina, KS, Sunflower is the parent company of Sunflower Bank and Logia Portfolio Management. Sunflower Bank has been serving commercial and consumer clients in Kansas, Colorado and Missouri communities since 1892.
About Strategic Growth Bancorp (SGB)
Strategic Growth Bancorp Incorporated is a bank holding company with $2.2 billion in total assets, $1.7 billion in deposits and $271 million of equity capital as of December 31, 2016. Headquartered in El Paso, TX, SGB is the parent company of First National Bank of Santa Fe, Capital Bank, SSB and Guardian Mortgage Company, Inc. First National Bank of Santa Fe is a nationally chartered banking organization founded in 1870 operating as First National Santa Fe and First National Rio Grande in New Mexico, and First National Denver in Colorado. Capital Bank, SSB is a state chartered bank headquartered in El Paso, TX. Guardian Mortgage Company, Inc. is headquartered in Dallas, TX.