Texas financial company to acquire parent of Bank of New Mexico


A financial holding company from Texas will soon take over the parent company of Bank of New Mexico.

Triumph Bancorp Inc., headquartered in Dallas, is paying about $134.5 million for the acquisition of First Bancorp of Durango Inc., parent company to Bank of New Mexico. Triumph's subsidiary, TBK Bank, has 53 branches in Texas, Colorado, Kansas, Iowa and Illinois.

First Bancorp of Durango, which holds around $646 million in total assets, according to the release, owns the First National Bank of…

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