CrossFirst Bankshares Acquires Canyon Bancorporation and Canyon Community Bank
April 21, 2023
CrossFirst Bankshares, Inc. will acquire Canyon Bancorporation, Inc. and its subsidiary Canyon Community Bank, N.A. in a stock-and-cash transaction valued at an estimated $15.1 million. The deal adds a Tucson branch and core deposit base (Canyon Bank: $122M loans, $169M deposits as of March 31, 2023) to CrossFirst's regional banking footprint and is expected to close in H2 2023 subject to regulatory approval.
- Buyers
- CrossFirst Bankshares, Inc.
- Targets
- Canyon Bancorporation, Inc., Canyon Community Bank, N.A.
- Sellers
- Canyon Bancorporation, Inc. shareholders
- Industry
- Financial Services
- Location
- Arizona, United States
- Transaction Type
- Buyout
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