Grants, NM and Dallas, April 9, 2018 – Clemente Sanchez, chairman, president and chief executive officer of Bank of New Mexico and Aaron P. Graft, chief executive officer of TBK Bank, SSB, are pleased to announce the signing of an agreement for TBK Bank’s parent company, Triumph Bancorp, Inc. to acquire Bank of New Mexico and its parent company, First Bancorp of Durango, Inc.
Bank of New Mexico’s three branches in Albuquerque, Gallup and Grants, New Mexico will join TBK Bank’s 53-branch network.
"We are really excited about the acquisition of Bank of New Mexico," said Graft. "This will allow us to expand our presence into the state of New Mexico. TBK Bank will continue Bank of New Mexico’s tradition of meeting the local needs of the community."
"Bank of New Mexico will operate as TBK Bank following the close of the acquisition," said Sanchez. "While the name will change, our values will endure. TBK Bank has a strong commitment to serving the communities in which they operate. They value their team members and their customers greatly. I believe this partnership is good for our bank and for our community."
The transaction is anticipated to close in the third quarter of 2018, pending regulatory approval. To view the full press release regarding the announcement go to: http://ir.triumphbancorp.com/file/Index?KeyFile=392951161
About TBK Bank
TBK Bank, SSB is a $3.5 billion bank offering personal and business banking from 53 branches. To learn more about TBK Bank, please visit www.TBKBank.com. TBK Bank’s parent company, Triumph Bancorp, Inc., is publicly traded on the Nasdaq under the ticker symbol TBK. To learn more about Triumph Bancorp, please visit, www.TriumphBancorp.com.
TBK Bank Media Contact:
Senior Vice President, Marketing & Communication
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Bank of New Mexico Media Contact:
Chairman, President and Chief Executive Officer
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