Heartland Financial USA, Inc. Announces Plan to Acquire AIM Bancshares, Inc. in Texas
Summary
The actual transaction value will change due to fluctuations in the price of Heartland common stock and is subject to certain potential adjustments as set forth in the merger agreement. “We are highly impressed with the people and performance of AimBank and the solid community banking franchise they have built,” said Lynn B. Fuller, Executive Operating Chairman of Heartland. “We strongly believe in the growth prospects of the Texas market, and I am confident that AimBank will be an outstanding addition to the Heartland organization.” Scott L. Wade, Chairman and Chief Executive Officer of AimBank will join FB&T as Vice Chairman of the Board and President of FB&T’s South Division, “We are delighted to reach this agreement with Heartland and look forward to joining such a high-quality organization. Bruce K. Lee, Heartland’s President and Chief Executive Officer, stated, “We entered the Texas market in 2018 through the acquisition of FirstBank & Trust and indicated that we fully expected to create a foundation for future growth. Heartland currently has 115 banking locations serving 84 communities in Iowa, Illinois, Wisconsin, New Mexico, Arizona, Montana, Colorado, Minnesota, Kansas, Missouri, Texas and California.