CIC Bancshares and Millennium Bancorp complete merger
August 16, 2012
CIC Bancshares Inc., a Denver-based bank holding company and the parent holding company of Centennial Bank, and Millennium Bancorp Inc., the parent holding company of Millennium Bank, based in Edwards, have announced that they completed their merger effective close of business on Aug. 14.
The combination creates a full-service community bank with approximately $400 million in assets and a total of nine branch operations serving the Denver-Boulder area and several Colorado mountain communities, including Fraser. The combined operation will do business as Centennial Bank.
“We are excited to join forces to form a larger and stronger organization and immediately expand our service offering to our customers,” says Kevin Ahern, president and CEO of CIC Bancshares, Inc. “Finalizing this merger in today’s marketplace is a true testament to the strength of these two well-established institutions and our ability to raise significant capital based on our confidence for ongoing growth and success.”
“The folks at Millennium Bank in Winter Park/Fraser are looking forward to joining the Centennial Bank team and providing expanded product offerings to our customers,” explains Mark Sheeley, who will serve as president of the Winter Park/Fraser market.
Peter Ammon, who previously served as president of the Winter Park/Fraser market, will now lead Centennial Bank’s ongoing special assets group.
The combined Bank will operate a total of nine branches in Colorado, including: Breckenridge, Edwards, Steamboat Springs, Vail, Winter Park/Fraser and downtown Denver, Boulder Centennial, Englewood.
Millennium Bank’s current branch locations in Englewood and the mountains will immediately be branded as Centennial Bank.
Jim Basey will continue as CEO of Centennial Bank and oversee the combined operation.