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Santa Cruz County Bank and Lighthouse Bank Announce Agreement to Merge

Two banks based in Santa Cruz, Calif. — Santa Cruz County Bank and Lighthouse Bank — announced an agreement pursuant to which Lighthouse Bank will merge into Santa Cruz County Bank in an all-stock transaction valued at approximately $68.87 million or $25.50 per Lighthouse Bank common share as of close of market on May 28. The merger will increase Santa Cruz County Bank’s total assets to nearly $1 billion on a pro forma basis with seven full service banking offices in Santa Cruz and Santa Clara Counties.

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Texas Bankers Association Awards Presented

Cornerstone and LiFE Awards

The Texas Bankers Foundation, the philanthropic arm of the Texas Bankers Association, presented the annual Cornerstone and Leaders in Financial Education (LiFE) awards to four banks at a special luncheon on May 2, during the association’s 135th Annual Convention, held in Austin.

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Glacier Bancorp Announces Acquisition of Heritage Bancorp in Nevada

Montana’s Glacier Bancorp Inc., based on Kalispell, has agreed to acquire Heritage Bancorp, the bank holding company for Heritage Bank of Nevada, a community bank based in Reno. The acquisition marks Glacier’s 22nd announced acquisition since 2000 and it’s 11th announced transaction in the past six years. Heritage Bank provides banking services to individuals and businesses throughout northern Nevada with seven banking offices located in Carson City, Gardnerville, Reno and Sparks. As of Dec. 31, 2018, it had total assets of $829.7 million, gross loans of $595.6 million and total deposits of $720.5 million.

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Farm Financial Stress Has Producers Concerned About Future

Producer sentiment weakened slightly in late winter, according to the March Purdue University/CME Group Ag Economy Barometer reading. The barometer declined 3 points to a reading of 133, down from 136 in February.

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Half of Rural Supply Managers Reporting Negative Impact of Flooding

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