Mutual of Omaha’s Front Range branches being sold to Centennial

NEDERLAND – Denver-based CIC Bancshares Inc., the owner of Centennial Bank, has reached an agreement to acquire five Mutual of Omaha Bank branches along the Front Range including one in Nederland.

Mutual of Omaha Bank branches in Idaho Springs, Evergreen, Conifer, Golden and Nederland will become Centennial Bank branches, pending regulatory approval and the satisfaction of certain other conditions, according to a joint statement.

Financial terms of the deal were not disclosed.

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The transition is expected to occur in October. Employees of the branches will transition to Centennial Bank.

The five branches were acquired by Mutual of Omaha Bank in 2007, when it purchased Peak National Bank of Golden.

Mutual of Omaha Bank is focusing on a banking center in the Denver Tech Center where it serves commercial, mortgage, homeowner association and individual clients.

CIC Bancshares, a holding company, is expanding its banking network in the Front Range and selective mountain communities,” Kevin Ahern, chairman and chief executive of CIC Bancshares, said in a prepared statement.