Independent Bank closing branches in Northern Colorado

Independent Bank Group Inc. (Nasdaq: IBTX), which finalized a $1-billion acquisition of Guaranty Bancorp late last year, announced it would close eight branches in Colorado, including two in Loveland and one each in Greeley and Fort Collins.

“The proposed changes are expected to reduce overlap of brick and mortar operations, while keeping the organization well-positioned to support existing customers and future growth,” according to an Independent news release.

The Northern Colorado branches are set to close by May 31.

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“By streamlining our presence, we increase our ability to give back and channel our resources,” Independent Bank CEO David Brooks said in a prepared statement.

It is unclear how many employees will be impacted as a result of these closures. Representatives with Independent could not be reached for comment Friday.

“Independent Bank is sensitive to decisions that impact employees, and as such, will make every effort to transition those affected by the consolidation to other areas within the organization or offer additional resources to support them through this alignment,” the bank’s news release said.