InBank, Legacy merger closes

DENVER — Mile High City-headquartered InBank and Wiley-based Legacy Bank have closed on their merger, creating an institution with $1.3 billion in assets that will serve the Front Range and northern New Mexico.

Under the terms of the merger agreement, InBank is issuing 3,566,345 shares of its common stock and is paying approximately $21.25 million in cash consideration to the shareholders of Legacy in the aggregate, according to a bank news release.

“We would like to welcome Legacy’s customers, associates and shareholders to InBank and InBankshares, Corp. The merger of InBank and Legacy Bank is an extremely exciting opportunity for our…