On May 16, 2019, it was announced that Fort Pierre, SD-based First National Bank entered into a definitive agreement to acquire Loveland, CO-based Advantage Bank.
GLC Advisors & Co., LLC acted as the exclusive financial advisor to Advantage Bank in connection with the transaction.
Advantage Bank operates through three branches located in Loveland, Greeley, and Fort Collins, Colorado. The acquired branches will operate under the name of First Advantage, a branch of First National Bank. First National Bank currently maintains 14 locations in South Dakota and Colorado.
“We’re excited to join our two strong and customer focused community banks together while expanding our footprint in the Colorado market,” said Craig Davis, Regional President of First National Bank. “Advantage Bank is a natural partner for First National Bank because they understand their local Colorado market and share our mission to strengthen the financial wellness of our neighbors and their businesses in the communities we call home.”
“The transaction allows us to better serve our customers and to provide a growth opportunity for our employees,” added Jeff Kincaid, President of Advantage Bank. “We will continue to operate as a community bank with a focus on local customer service.”
About First National Bank
First National Bank is a family owned business, commencing operations in 1934 in Fort Pierre, SD and has since grown to $1B in assets. First National Bank's banking professionals live and work in the communities it serves and lending decisions are always made locally. First National Bank offers customized banking services and innovative products in branches, online and from mobile devices. First National Bank provides a full range of commercial banking and consumer banking products and services, including mortgage and personal loans, internet banking and bill pay, mobile banking and mobile payment solutions.
About Advantage Bank
Advantage Bank was chartered in September of 2000 by a management team and local shareholder group committed to providing exceptional customer service to Northern Colorado businesses and consumers. The bank has proudly established banking offices in Loveland, Greeley and Fort Collins. Advantage Bank's commitment to local management is evidenced by experienced bankers in each location with deep roots in its communities and a strong knowledge of local businesses and consumers
GLC Transaction Team
Adam C. Fiedor / Managing Director / Adam.Fiedor@glca.com / 303.479.3845
Michael D. Richter / Managing Director / Michael.Richter@glca.com / 303.479.3844
Mike P. Fleschner / Vice President / Michael.Fleschner@glca.com / 303.479.3846
Bradley J. Hale / Analyst / Bradley.Hale@glca.com / 303.479.3851
1512 Larimer St. / 9th Floor / Denver, Colorado 80202 / www.glca.com
GLC Advisors & CO.
GLC Advisors & Co. delivers objective, senior-level expertise to clients through a variety of advisory assignments including: M&A, financing/debt advisories, restructurings/recapitalizations, fairness opinions, and valuations. Offices are located in New York, San Francisco, and Denver.
GLC Advisors is affiliated with GLC Investment Advisors, an investment firm that provides debt and equity capital for leveraged buyouts, strategic acquisitions, recapitalizations and growth financings for middle market companies.