Carlile Bancshares, Inc. to Acquire Washington Investment Company and Its Subsidiary Colorado Community Bank
FORT WORTH, Texas–(PRNewswire)–Washington Investment Company (WIC), a Colorado Front Range bank holding company, which owns 100 percent of the stock of Colorado Community Bank and Carlile Bancshares, Inc., a bank holding company, headquartered in Fort Worth, TX have announced that they entered into a definitive agreement in which Carlile will acquire WIC and its subsidiary, Colorado Community Bank. Jerry Bryant, WIC’s Chairman and Chief Executive Officer will be retiring to care for his wife; however, will remain involved during the transition period. Patrick Lynch will remain CCB’s President.
“We believe this transaction is in the best interest of our shareholders, employees and customers and we’re excited about the opportunity to join the Carlile Company, as it will enable the bank to expand its product offerings in the communities we serve,” said Jerry Bryant, WIC’s Chairman. “Colorado Community Bank and Carlile both share the same vision for community banking built on the tradition of customer relationships, service quality and strong roots within the community.”
Carlile was established in 2009 by experienced community bankers Tom C. Nichols, Chairman and Chief Executive Officer, and Don E. Cosby, President and Chief Operating Officer, with the purpose of investing in community banks positioned for growth. Carlile approached CCB in 2011 with a strong interest to structure a transaction that would enhance CCB’s ability for continued growth.
CCB has 18 locations located along Colorado‘s Front Range and north eastern Colorado and has over $500 million in assets. Carlile has two bank subsidiaries, Treaty Oak Bank, with five locations in Austin and Marble Falls, TX, and The Bank at Broadmoor, with four locations in Colorado Springs, CO; and combined total assets of approximately $300 million. In addition, Carlile has a pending acquisition of Northstar Bank, a ten branch, nearly $1 billion bank headquartered in Denton, Texas.