Heartland provides banking, mortgage, private client, investment, treasury management, card services, insurance and consumer finance services to individuals and businesses. Heartland is a diversified financial services holding company with assets of approximately $15.6 billion as of September 30, 2020. Hillworth Bank Partners served as financial advisor and issued a fairness opinion to AIM and Fenimore, Kay, Harrison, & Ford, LLP served as AIM’s legal counsel. served as financial advisor to Heartland and Dorsey & Whitney LLP served as Heartland’s legal counsel. In connection with the transaction, Panoramic Capital Advisors, Inc. This combination brings together two strong community banks with similar cultures, builds further scale for Heartland in Texas and New Mexico, and will create additional value for our shareholders.” Lee, Heartland’s President and Chief Executive Officer, added, “We are excited to welcome the customers and employees of AimBank. The AimBank shareholders will receive approximately 5,185,000 shares of Heartland common stock and approximately $47.3 million in cash, subject to certain “hold-back” provisions of the merger agreement relating to the cash consideration.Īfter completing the acquisition of AimBank and the previously announced acquisition of Johnson Bank’s four Arizona branches, which also closed on December 4, 2020, Heartland has total assets of almost $18 billion with more than 140 full-service banking locations operating in 12 states.īruce K. “AimBank brings a strong team of experienced bankers, focused on providing exceptional customer service, which will expand and continue our success in the market.” Fuller, Executive Operating Chairman of Heartland. “We are excited to expand our presence in Texas and New Mexico,” said Lynn B.
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AimBank also has six full service banking centers in Northeastern New Mexico. The bank serves Lubbock, Midland-Odessa, Amarillo, Abilene and other surrounding West Texas communities from 19 full-service banking centers. The combined bank will operate under the name FirstBank & Trust.ĪimBank is a full-service community bank with approximately $1.85 billion in total assets, $1.12 billion in total net loans outstanding and $1.60 billion in total deposits as of September 30, 2020. (“AIM”), headquartered in Levelland, Texas, at the close of business on December 4, 2020.ĪIM first merged into AimBank, and immediately thereafter, AimBank merged with and into FirstBank & Trust, Heartland’s wholly-owned subsidiary headquartered in Lubbock, Texas. (“Heartland”) (NASDAQ: HTLF) announced today the completion of its acquisition of AimBank, the wholly-owned subsidiary of holding company AIM Bancshares, Inc. 07, 2020 (GLOBE NEWSWIRE) - Heartland Financial USA, Inc.
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