Triumph Bancorp completed its acquisitions of First Bancorp of Durango and Southern Colorado Corp.
Following the acquisition closings, the wholly-owned bank subsidiaries of First Bancorp of Durango, The First National Bank of Durango and Bank of New Mexico, and the wholly-owned bank subsidiary of Southern Colorado, Citizens Bank of Pagosa Springs, will merge with and into the Company’s wholly-owned bank subsidiary, TBK Bank.
As of June 30, 2018, First Bancorp of Durango had approximately $629 million in total assets, $271 million in loans and $560 million in deposits. Southern Colorado had approximately $82 million in total assets, $36 million in loans and $74 million in deposits.
“The addition of The First National Bank of Durango, Bank of New Mexico and Citizens Bank of Pagosa Springs brings the number of TBK Bank branch locations to 61 across six states,” said Aaron P. Graft, vice chairman and CEO of Triumph. “With these acquisitions, we now have 37 Colorado locations, solidifying our place as one of the top community banks in the state. We also enter New Mexico, a market in which we hope to grow in the future. We look forward to providing the exceptional customer service their customers have come to expect, while also bringing the products, services and technology of TBK Bank to their communities.”
Headquartered in Dallas, Triumph Bancorp offers a diversified line of community banking and commercial finance products.