FORT WORTH, Texas
Dec. 31, 2012
/PRNewswire/ -- Carlile Bancshares, Inc. of
Fort Worth, Texas
finalized the acquisition of Washington Investment Corporation, the parent company of Colorado Community Bank,
, Colorado. Carlile received Federal Reserve approval
, and closed the transaction on
. The purchase price was a two part transaction totaling
in notes. Colorado Community Bank has 17 branch locations along the Front Range and eastern Colorado. Colorado Community Bank has total assets of
. Carlile's combined assets will be
, with 36 branch locations, 21 in
and 15 branches located in
Carlile is the parent company of Bank at Broadmoor,
Colorado Springs, Colorado
Tom C. Nichols
, Chairman and CEO of Carlile Bancshares, will become the Chairman and CEO of Washington Investment Corporation and Colorado Community Bank.
will continue as President.
, the former Chairman and CEO, retired on December 28.
"This transaction will keep us on track with our strategic plan toward building a larger banking franchise in
," said Nichols. "
's economy is rebounding nicely and we feel community banking is alive and well in
and there are a number of acquisition candidates in
SOURCE Carlile Bancshares, Inc.