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Mountain Valley Bank enters into
merger with Platte Valley Financial
Service Companies
Monday, March 24, 2014
Mountain Valley Bank announced Monday that it has entered into a definitive
merger agreement with Platte Valley Financial Service Companies Inc., also
known as Platte Valley Companies.
According to a news release, Platte Valley Companies will acquire the
outstanding shares of Mountain Valley Bank and its parent holding company,
Mountain Valley Bancshares Inc.
“It’s very exciting, and I couldn’t be more pleased,” Mountain Valley Bank
President and CEO Terry Jost said. “Our community will benefit from it
greatly.”
Besides its Steamboat Springs location, which opened in 2004, Mountain
Valley Bank has three other branches in Northwest Colorado — in Hayden,
Walden and Meeker.
Jost said the merger allows the bank to provide more services to the
community, including additional mortgage, insurance and leasing options.
“We believe this arrangement accomplishes the goals we’ve set to meet the
needs of our shareholders, employee associates and communities,” Jost said in
the news release. “This merger will also benefit each of our local communities
as Platte Valley Companies has shown it is deeply committed to the success of
the communities it serves.”
Mountain Valley Bank and Platte Valley Companies announced the signing of
the definitive agreement to their employees Friday. Both companies are
working toward a closing date within the second quarter of 2014.
