KANSAS CITY, Mo.--(BUSINESS WIRE)--Dickinson Financial Corporation (DFC), a $2 billion bank holding company headquartered in Kansas City, MO, has completed its previously announced charter consolidation plans. As a part of the consolidation, Phoenix-based SunBank, N.A. and Tampa-based Southern Commerce Bank, N.A. were merged into Colorado-headquartered Academy Bank, N.A. In addition, San Diego-based Armed Forces Bank of California, N.A. was merged with its Kansas-headquartered military banking affiliate Armed Forces Bank, N.A. Finally, 25 Walmart in-store bank branches located in Missouri and Kansas were transferred from Armed Forces Bank to Academy Bank in a purchase and assumption transaction.
“In addition to streamlining the organization and reducing costs and complexity, with the consolidation of the bank charters we are squarely aligning our capital and resources with our future growth plans in two distinct banking markets,” said Paul Holewinski, Chief Executive Officer of Dickinson Financial Corporation.
Armed Forces Bank is now a pure-play military bank that proudly serves active and retired military and civilian customers in all 50 states, on ships at sea and in foreign countries. Academy Bank is a strong commercial banking platform for the company to provide a wide array of products and services to businesses and consumers through an extensive network of traditional and in-store branch locations in Kansas, Missouri, Colorado, Arizona and Florida.
“We are pleased to have this next chapter in the evolution of our organization behind us and we look forward to continuing to execute our growth strategy from a significantly simplified operating model,” added Holewinski.
Dickinson Financial Corporation
Dickinson Financial Corporation (DFC) is a $2 billion privately held bank holding company headquartered in Kansas City, Mo. Its banking subsidiaries, Academy Bank and Armed Forces Bank, are headquartered in Colorado Springs, Colorado and Fort Leavenworth, Kansas. Customers access DFC’s banking products and services through its branch network, Customer Care Center, convenient ATM locations, and via online and mobile banking. DFC provides convenience-based banking through extended banking hours, with many retail locations open 7 days a week. For more information, visit www.academybank.com, www.afbank.com or follow us on LinkedIn at linkedin.com/Dickinson-Financial-Corporation.
