Cache Bank sale OK’d by state
GREELEY — Cache Bank & Trust will be sold to Mountain Valley Bank in a deal approved by state and federal regulators and set to close in mid-December, the president of the buyer told BizWest.
The Colorado State Banking Board approved the acquisition on Oct. 21. The Board of Governors of the Federal Reserve granted the waiver of application on the acquisition Oct. 8. The proposed deal was first announced Aug. 27.
Cache has $115 million in assets and Mountain Valley has about $350 million, Mountain Valley Bank President Wade Gebhardt said.
Cache is based in Greeley and has a second branch in…
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