SALINA, Kan. & DENVER--(BUSINESS WIRE)--Kansas-based Sunflower Financial, Inc. (“Sunflower”) and Colorado-based First Western Financial, Inc. (“First Western”) today announced the mutual termination of their definitive merger agreement, dated September 22, 2014.
Although the original rationale for the merger had merit, the parties determined that terminating the merger was in the best interest of both companies and their respective shareholders at this time. The termination of the merger agreement has been approved by the board of directors of both parties. In association with the termination, each parties will release the other from all obligations with respect to the merger transaction, bear its own fees in connection with the transaction and is free to pursue other strategies.
About Sunflower
Sunflower Financial, Inc. is a bank holding company with $1.7 billion in total assets, $1.3 billion in deposits and $189 million of equity capital as of September 30, 2014. Headquartered in Salina, KS, Sunflower is the parent company of Sunflower Bank. Sunflower Bank has been serving commercial and consumer clients in Kansas, Missouri and Colorado communities since 1892. www.sunflowerbank.com
About First Western
First Western Financial, Inc. is a bank holding company with $724 million in total assets, $600 million of deposits and $4.7 billion of trust and investment assets under management as of September 30, 2014. Headquartered in Denver, CO, First Western is the parent company of First Western Trust Bank and First Western Capital Management. First Western provides private banking and wealth management services through local boutique banking offices in Colorado, Wyoming, Arizona and California. www.myfw.com
