Sunwest Bank has completed its acquisition of the former MidWestOne Bank and Bank of Denver branches in Colorado from Nicolet National Bank, significantly expanding its presence across the Rocky Mountain region.
The transaction strengthens Sunwest Bank’s footprint in Colorado and broadens its ability to serve companies, entrepreneurs and other commercial clients throughout the state.
Through the acquired branches, Sunwest Bank will expand the reach of its commercial banking, treasury management, lending and deposit services. The larger Colorado presence is expected to give the bank additional capacity to support local businesses with working capital, financing, cash-management tools and other banking solutions.
The acquisition also advances Sunwest Bank’s broader regional growth strategy. By adding established Colorado locations and customer relationships, the bank can deepen its presence in one of the key markets within its western U.S. operating footprint.
Sunwest Bank provides financial services to privately held businesses, real estate investors, family offices and entrepreneurs. Its commercial banking capabilities include business lending, treasury and cash management, deposit accounts and other customized financial solutions.
The bank’s expanded Colorado operations will complement its existing offices across California, Arizona, Idaho, Utah and Florida. The transaction also increases Sunwest Bank’s ability to serve customers operating across multiple states.
Founded in 1969, Sunwest Bank is a privately held commercial bank headquartered in Sandy, Utah. The bank has more than $4 billion in assets and maintains offices across California, Arizona, Idaho, Colorado, Utah and Florida.
Sunwest Bank’s growth has centered on providing relationship-based banking services to commercial clients. The acquisition of the former MidWestOne and Bank of Denver locations gives the bank a larger platform from which to deliver those services across Colorado and the broader Rocky Mountain region.
KEY QUOTES:
“We are proud to officially welcome our new clients to Sunwest Bank as we complete this transaction. It reflects our long-term commitment to Colorado, and we look forward to building lasting relationships while delivering the personalized service, innovative solutions, and entrepreneurial spirit that define Sunwest Bank.”
Carson Lappetito, President and CEO, Sunwest Bank
“This acquisition is part of our long-term strategy to grow in markets where relationship banking makes a meaningful difference. We believe this investment positions us for continued growth in Colorado while strengthening the communities we serve.”
Robert Faver, Chief Banking Officer, Sunwest Bank
