Academy Bank To Acquire Colorado-based Mountain View Bank of Commerce

Posted June 6, 2024

Academy Bank announced it has entered into a definitive agreement to acquire Colorado-based Mountain View Bank of Commerce.

Academy Bank and its parent company, Dickinson Financial Corporation, announced the transaction is expected to close in the fourth quarter of 2024, according to a release. Upon closing the deal, Academy Bank will have 28 branches and over $725 million in deposits throughout Colorado. Mountain View Bank of Commerce (MVBC) operates with over $188 million in assets.

The acquisition adds a Westminster branch and a Boulder loan production office to Academy Bank’s Colorado footprint.

“We are excited to bring MVBC into the Academy Bank team. This acquisition strengthens our commercial and business banking capabilities and bolsters our presence in North Denver and Boulder, as we continue to build out our footprint in key Colorado markets,” said Paul Holewinski, Chief Executive Officer of Academy Bank.

In addition to the Kansas City headquarters, Academy Bank operates 25 full-service facilities in the Kansas City area. The bank oversees branches throughout Arizona, Arkansas and Colorado, maintaining a branch network of more than 72 banking centers.

Academy Bank ranked No. 12 on Top Area Banks Ranked by Total Assets in The Power Book 2024 Edition: Powered by Ingram’s. The bank had total assets of $2.44 billion and a net income of 29.8 million in 2022.

Olsen Palmer LLC was financial advisor to MVBC and Stinson LLP served as its legal advisor in the transaction. Fenimore Kay Harrison LLP acted as legal advisor to Academy Bank.