The United States of America has merged several Banks for the long term benefit of banking and the country. According to official orders issued by the Federal Reserve, a number of bank holding companies have received permission to merge with other financial institutions and their subsidiaries. These mergers will allow banks to expand their operations, combine resources, and strengthen their financial position.
Merger of Home BancShares with Mountain Commerce Bancorp, Inc
The Federal Reserve System has approved a merger involving Home BancShares, Inc. and Mountain Commerce Bancorp, Inc. Home BancShares, Inc., based in Conway, Arkansas, is a bank holding company. The company requested approval from the Federal Reserve Board to merge with Mountain Commerce Bancorp, Inc. (MCBI). Through this merger, Home BancShares will indirectly acquire Mountain Commerce Bank, which is located in Knoxville, Tennessee.
Home BancShares also owns Centennial Bank, which is a state member bank based in Conway, Arkansas. Centennial Bank applied for approval to merge with Mountain Commerce Bank. After the merger is completed, Centennial Bank will remain the surviving bank, meaning Mountain Commerce Bank will be merged into Centennial Bank.
Merger of Associated Banc-Corp and American National Corporation
The Federal Reserve System has approved the merger of Associated Banc-Corp, based in Green Bay, Wisconsin, with American National Corporation, headquartered in Omaha, Nebraska. Associated Banc-Corp will indirectly acquire American National Bank, which is a subsidiary of American National Corporation. American National Bank, located in Omaha, Nebraska, will then be merged with Associated Bank, the national bank subsidiary of Associated Banc-Corp in Green Bay, Wisconsin. After the process is completed, Associated Bank will continue as the surviving bank.
Merger of FirstSun Capital Bancorp with First Foundation Inc.
The Federal Reserve System has approved the merger of FirstSun Capital Bancorp, based in Denver, Colorado, with First Foundation Inc., headquartered in Irving, Texas. Through this merger, FirstSun will acquire First Foundation Inc. After the acquisition First Foundation Bank will be merged with Sunflower Bank, which is FirstSun’s national bank subsidiary based in Dallas, Texas. After the merger is completed, Sunflower Bank will remain the surviving bank.
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