First Bank Lubbock to be Bought by Heartland Financial for $186M

Heartland Financial USA Inc. entered into a definitive merger agreement with First Bank Lubbock Bancshares Inc., headquartered in Lubbock TX. The Dubuque, IA-based Heartland Financial will pay approximately $185.6 million for the bank.

First Bank Lubbock Bancshares owns FirstBank & Trust, a commercial and retail bank that has eight full-service banking centers throughout West Texas. The bank also offers mortgage lending services from eight offices throughout Texas through PrimeWest Mortgage Corp. Upon closing of the merger, FirstBank & Trust will become a wholly owned subsidiary of Heartland, and will continue operating under its current brand and management team.

Closing is expected to take place in Q2 2018, with a systems conversion planned for the third quarter of 2018.

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