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Fort Pierre, SD-based First National Bank to buy Colorado's Advantage Bank

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Fort Pierre, SD-based First National Bank to buy Colorado's Advantage Bank

First National Bank agreed to buy Advantage Bank for an undisclosed sum, the Denver Business Journal reported.

S&P Global Market Intelligence valuations for bank and thrift targets in the Southwest region between May 17, 2018, and May 17, 2019, averaged 187.25% of book and 196.97% of tangible book and had a median of 18.77x last-12-months earnings on an aggregate basis

As of March 31, Fort Pierre, S.D.-based First National Bank had $1.01 billion in assets, while Loveland, Colo.-based Advantage Bank had assets of $307.2 million, S&P Global Market Intelligence data shows.

GLC Advisors & Co. was Advantage Bank's financial adviser.

To use S&P Global Market Intelligence's branch analytics tools to compare market overlap, click here. To create custom maps, click here.

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