Rocky Mountain Bank, based in Jackson, plans to merge into the company that owns First Western Trust Bank, which has an office in Jackson.
According to a press release, First Western Financial Inc., the parent company of First Western Trust Bank, and Teton Financial Services, the parent company of Rocky Mountain Bank, have signed a definitive merger agreement.
“Our employees and clients will benefit from First Western’s broader offering of products and services, as well as its ability to accommodate larger financing needs,” Teton Financial Services Chairman, CEO and President Allan Tessler said in the press release.
Rocky Mountain Bank clients should continue to conduct business as usual at this time, the release said.
First Western operates in Colorado, Arizona, Wyoming and California. Rocky Mountain Bank has offices in Rock Springs and Pinedale in addition to Jackson.
The transaction is expected to close toward the end of this year or early in the first quarter of 2022.
For more, see the Business section of the July 28 edition of the Jackson Hole News&Guide.