LUBBOCK, Texas (KCBD) - Heartland Financial has purchased the Levelland-based bank chain, AimBank, for $280.4 million.
A press release announced the purchase Thursday, saying AimBank will merge into Heartland’s existing Lubbock-based subsidiary, FirstBank & Trust, which has $1.14 billion in assets.
AimBank operates in Lubbock, Midland-Odessa, Amarillo, Abilene, and other West Texas communities from 19 banking centers, with $1.78 billion in assets, $1.16 billion in loans, and $1.54 billion in deposits.
The release states this move will create Heartland’s largest bank subsidiary with assets of $3 billion and 33 banking centers providing services for West Texas and Northeastern New Mexico. After completing the deal, Heartland will have assets of $15 billion with 140 locations in 84 communities in Iowa, Illinois, Wisconsin, New Mexico, Arizona, Montana, Colorado, Minnesota, Kansas, Missouri, Texas, and California.
MORE DETAILS: First Bank & Trust and AimBank announce plans to merge