BankGuam Holding in Hagatna will slowly buy a majority stake in a trust company.

The $1.7 billion-asset company disclosed in a regulatory filing Monday that it recently agreed to buy a 25% stake in ASC Trust Corp. in Hagatna.

BankGuam plans to buy another 20% stake in April 2018 and another 25% stake in April 2021, though each of those purchases will require regulatory approval.

BankGuam also said that it issued $3.5 million in subordinated debt to finance the initial transaction.

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