Mountain Parks Financial Corp. said it has a letter of intent to acquire Kiowa (Colo.) State Bank.

Kiowa, with three branches and $41 million of assets, is a commercial bank based near Denver. The transaction is expected to be completed by the end of summer.

The merger would increase Mountain Parks' assets to nearly $500 million.

"Kiowa State Bank is strategically located in a prime area of importance to our company as we build our presence in and around metropolitan Denver," said Dennis M. Mathisen, president and chief executive of Mountain Parks.

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