BankGuam Holding in Hagatna will slowly buy a majority stake in a trust company.
The $1.7 billion-asset company
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.