June 2, 2017 / 8:07 PM / 5 months ago

Fed approves Sunflower Financial to create bank holding company

WASHINGTON (Reuters) - The Federal Reserve on Friday approved mergers that will allow Sunflower Financial Inc to create a bank holding company.

FirstSun Capital Bancorp will acquire Sunflower Financial, Inc and Sunflower Bank in the deal that will create the bank holding company: Sunflower Reincorporation Sub, Inc.

The Fed also gave approval for FirstSun Capital to acquire Strategic Growth Bank Incorporated and Strategic Growth Bancorp Incorporated, both of El Paso, Texas. Capital Bank, SSB, of El Paso, Texas, and First National Bank of New Mexico will be tied up in the deal.

Reporting By Patrick Rucker; Editing by Chizu Nomiyama

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