Platte Valley Companies announces merger in Colorado - Scottsbluff Area News, Sports, and Weather

Platte Valley Companies announces merger in Colorado

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Hod Kosman, President, Chairman and CEO of Platte Valley Companies announced Monday that Platte Valley Companies has entered into a definitive merger agreement with Mountain Valley Bank of Colorado.

Mountain Valley Bank has locations in Walden, Steamboat Springs, Hayden, and Meeker, Colorado.

Kosman says MountainValley Bank will maintain their Colorado banking charter and operate as a‘sister bank' to Platte Valley Bank – Wyoming and Platte Valley Bank – Nebraska.

"Webelieve local ownership and control leads to maximum customer and employeesatisfaction. We are pleased that under this merger agreement many localMountain Valley Bancshares, Inc. shareholders and employees will continue tohold ownership in the combined company," Kosman said in a prepared statement. 

Themerger agreement issubject to approval by the shareholders of Mountain Valley Bancshares, Inc. andbank regulators.

Bothcompanies are currently working towards a closing date within the secondquarter of 2014.

After closing, Platte Valley Companies will have total bankingassets of approximately $900 Million with sixteen full-service locationsserving thirteen communities in Colorado, Nebraska, and Wyoming.  

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