Guaranty Bancorp (GBNK) in Denver has bought Cherry Hills Investment Advisors in Greenwood Village, Colo.

The $2 billion-asset Guaranty said in a press release Wednesday that Cherry Hills will become a subsidiary of Guaranty Bank and Trust in its wealth management group. The company did not disclose how much it paid for the privately held firm.

Cherry Hills will remain in Greenwood Village and Guaranty will keep all of its employees, including its three principals.

Guaranty's "comprehensive banking services and... branch network, together with Cherry Hills Investment Advisors' investment management expertise and high-touch service, will enable us to offer an expanded platform to individuals looking for a Colorado-based partner to help them achieve their financial goals," Paul Taylor, Guaranty's president and chief executive, said in the release.

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