Grand Valley Bank completes acquisition of Frontier Bank
Submitted by Grand Valley Bank -
Grand Valley Bank has successfully completed acquisition of the Park City, Utah, branch of Frontier Bank. The transaction was announced in September of this year, and was completed on Dec. 7, 2012 after receiving approval of bank regulators.
“This is a fine example of two businesses engaging in a ‘win-win’ transaction,” said Curt Taylor, President & CEO of Grand Valley Bank. “Frontier was benefited by consolidating its banking footprint in southern California, and Grand Valley achieved a natural expansion adjacent to its banks in the Heber Valley.”
Grand Valley Bank started in Grand Junction in 1983. Today it has four branches in western Colorado, and now four branches in Utah. “The communities where we do business have been very good to us, even through the hard times,” Taylor said, “and we want to be good back to them. We’re delighted to expand our coverage to Park City, a dynamic part of the Utah economy.”
Clifford Miller, Chairman of Frontier Bank, expressed satisfaction that Grand Valley is retaining most of the Park City staff, and adding to it. “We are pleased that our Park City branch is now a significant part of a true community bank that will build upon what Frontier began in 1998.” Miller said Frontier will continue to operate its three branches in the Palm Desert area. Those branches do business as El Paseo Bank.
For more information contact: Curt Taylor (President/CEO, Grand Valley Bank) or (435) 671-1146 Clifford Miller (Chairman, Frontier Bank) (818) 973-4297.