Centennial plans merger with Guaranty Corp.

FORT COLLINS — Centennial Bank Holdings Inc. and Denver-based Guaranty Corp. have signed a definitive agreement and plan of merger. The result of the merger is a bank holding company with 30 branches, combined assets of more than $2.4 billion and total deposits of about $1.8 billion. This acquisition could expedite Centennial Bank Holdings’ plans for an initial public offering. The company’s goal was to consider an IPO when it reached its goal of $2 billion.
Under terms of the agreement, Centennial Holdings will pay $365 million in cash in exchange for all of Guaranty’s outstanding common stock and…