MEEKER I Hod Kosman, President/Chairman/CEO of Platte Valley Financial Service Companies, Inc., also known as Platte Valley Cos., announced Wednesday that the merger of Platte Valley Companies and Mountain Valley Bank has been finalized.
As of Monday, Platte Valley Cos. acquired all outstanding shares of Mountain Valley Bank and its parent holding company, Mountain Valley Bancshares, Inc. The merger agreement was approved by the boards of directors of Platte Valley Companies, Mountain Valley Bank and Mountain Valley Bancshares, Inc., the shareholders of Mountain Valley Bancshares, Inc., and bank regulators.
Mountain Valley Bank President Terry Jost said, “We are enthusiastic for this new chapter for Mountain Valley Bank as we look forward to offering the same great customer service with the same people you know, but with enhanced products.”
Platte Valley Cos. joined with a group of Colorado bankers and investors to form Mountain Valley Bank in 2004 with locations in Walden, Steamboat Springs, Hayden and Meeker, Colo. In 2007, Platte Valley Cos. sold its controlling interest to the Colorado shareholders of Mountain Valley Bank, but continued to hold a significant investment in Mountain Valley Bancshares, Inc.
