A New Mexico investor group that planned to found a bank is buying one instead, the $30 million-asset Interamerica Bank in Albuquerque.
Processing Content
The Albuquerque Business Journal reported Friday that the $388 million-asset Fremont Bank Corp. of Canon City, Colo., had decided to sell Interamerica and focus on its three Colorado subsidiaries.
The investor group's leader, longtime New Mexico banker Ron Shettlesworth, said he expected to receive regulatory approval for the deal by August. The group plans to change Interamerica's name to Main Bank. The sale price was not disclosed.
