Lubbock, TX-based FirstBank & Trust, a wholly owned subsidiary of Heartland Financial USA, and Levelland, TX-based AimBank, a wholly-owned subsidiary of AIM Bancshares, have entered into a definitive merger agreement.
Following the merger, ABI will be acquired by Heartland.
The combination of FB&T and AimBank will create Heartland’s largest bank subsidiary with assets of almost $3 billion and 33 banking centers. The combined bank will operate under the FirstBank & Trust brand.
“We at FirstBank & Trust are extremely excited about the opportunity to join forces with AimBank,” said Barry H. Orr, chairman and chief executive officer of FB&T.
“We have immense respect for Scott Wade and his team of talented bankers. The leadership teams of our two institutions will be integrally working together to enhance our commitment to a quality customer experience. We are very fortunate to be combining two talented teams of local commercial banking professionals and staff with an excellent knowledge of the communities and the clients they serve.”
With approximately $1.78 billion in total assets, $1.16 billion in net loans outstanding and $1.54 billion in deposits as of December 31, 2019, AimBank is a full-service community bank that serves customers from 19 offices in West Texas. AimBank also serves customers from six branch offices in Northeastern New Mexico, which are located in Angel Fire, Clayton, Logan, Raton, Santa Rosa, and Tucumcari, New Mexico.
FB&T serves commercial businesses, professionals and individuals from eight offices in the Lubbock, Snyder, Tahoka, Colorado City and Wilson markets of Texas, FB&T had approximately $1.14 billion in total assets as of December 31, 2019.