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Triumph Bancorp closes First Bancorp of Durango, Southern Colorado Corp. deals

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Triumph Bancorp closes First Bancorp of Durango, Southern Colorado Corp. deals

Dallas-based Triumph Bancorp Inc. closed its acquisitions of Inverness, Ill.-based bank holding companies First Bancorp of Durango Inc. and Southern Colorado Corp.

Following the closing of the deals, First National Bank of Durango and Bank of New Mexico, the wholly owned subsidiaries of First Bancorp of Durango, and Citizens Bank of Pagosa Springs, a unit of Southern Colorado, will merge into TBK Bank SSB, a unit of Triumph Bancorp.

First Bancorp of Durango as of June 30 had about $629 million in assets, $271 million in loans and $560 million of deposits. Southern Colorado as of June 30 had approximately $82 million of total assets, $36 million in loans and $74 million of deposits.