Zions Bancorp. said it plans to buy Kersey (Colo.) Bancorp in a stock deal. Details were not announced.
Kersey is the parent of Independent Bank. It has assets of $135 million and seven banking offices in northeastern Colorado. The transaction is expected to close in the third quarter.
Zions has $1.4 billion of assets in Colorado. Its pending acquisition partners - State Bank and Trust of Colorado Springs, First National Bank of Colorado in Steamboat Springs, and Independent Bank - have combined assets of approximately $345 million and would bring the number of Zions' Colorado banking locations to 47.
Under local management and with community identities, Zions has full- service banking offices in Arizona, California, Colorado, Idaho, Nevada, New Mexico, and Utah.