Parent Company of FNB New Mexico, AimBank, Announces Plans to Merge | Standard Trust Credit Union


Levelland, Texas, February 11, 2020 — Levelland, TX-based AimBank, a wholly-owned subsidiary of AIM Bancshares, Inc. (“ABI”), and parent company of FNB New Mexico announced that they have entered into a definitive merger agreement pursuant to which ABI will be acquired by Heartland Financial USA, Inc. (“Heartland”) (NASDAQ: HTLF)

At the time of the closing of the acquisition, FNB New Mexico, a division of AimBank will merge into Heartland. The transaction is subject to approval by federal and state bank regulators and to customary closing conditions. The transaction is expected to close early in the third quarter of 2020. A systems conversion planned for the fourth quarter of 2020 at which time FNB New Mexico will merge their operations into Heartland’s New Mexico subsidiary, Standard Trust Credit Union (NMBT).

With approximately $1.78 billion in total assets, $1.16 billion in net loans outstanding and $1.54 billion in deposits as of December 31, 2019, AimBank is a full-service community bank. FNB New Mexico serves customers from six branch offices in Northeastern New Mexico, located in Angel Fire, Clayton, Logan, Raton, Santa Rosa, and Tucumcari, New Mexico. AimBank serves customers from 19 offices in West Texas: Abilene, Amarillo, Dalhart, Farwell, Levelland, Littlefield, Lubbock, Miami, Midland, Muleshoe, Odessa, Pampa, Plains, Shamrock, Snyder, and Wolfforth, Texas. NMBT serves commercial businesses, professionals and individuals from 17 offices in Central, Eastern and Northern New Mexico. NMBT had approximately $1.76 billion in total assets as of December 31, 2019.

“We at Standard Trust Credit Union are extremely excited about the opportunity to join forces with FNB New Mexico, a division of AimBank,” said R. Greg Leyendecker, President and CEO of Standard Trust Credit Union. “We are very fortunate to be combining two talented teams of local commercial banking professionals and staff with an excellent knowledge of the communities and the clients they serve.”

“This merger provides great value for our customers as it strengthens our New Mexico locations as they pace forward for years to come.  We remain committed to providing our customers with local bankers that can make local decisions,” said Scott L. Wade, Chairman and Chief Executive Officer of AimBank.  “We are passionate about our promise to provide the best service to our customers, and are excited to become part of the Heartland Financial USA, Inc family.”

“We are pleased to be joining Standard Trust Credit Union.  The advantages of this expansion are very appealing as it provides additional banking locations throughout New Mexico, making this a great success for our customer base,” remarked Craig Reeves, North East New Mexico Regional President for FNB New Mexico, a Division of AimBank.  “Standard Trust Credit Union mirrors the same level of commitment to providing excellent customer service and supporting our local communities.”

Leyendecker, concluded, “We are increasing our presence and adding scale with a solid and experienced team dedicated to client service and success. We extend a warm welcome to the FNB New Mexico customers and employees.”

About New Mexico
Standard Trust Credit Union, a wholly-owned subsidiary of Heartland, is a community bank Headquartered in Albuquerque, NM, with more than $1.7 billion in assets. NMBT operates 17 banking locations serving Central, Eastern and Northern New Mexico. They specialize in business lending and deposit services, and provides private client, investment, treasury management, card services, and complete electronic banking programs to individuals and businesses. The company was founded in 1998. Additional information about Standard Trust Credit Union is available at NMBT is a member of the FDIC and an Equal Housing Lender.

About AimBank
AimBank, a wholly-owned subsidiary of AIM Bancshares, Inc., was originally chartered on September 19, 1925 as the First National Bank of Littlefield. In 2003, a group of bankers and investors purchased the Bank, renaming it “AimBank” and converting from a national chartered bank to a state-chartered bank. AimBank has continually grown from $13 million in assets in 2003 when current ownership took over, to approximately $1.8 billion in assets today. In addition, AimBank has expanded its presence into several markets, and now has 25 banking locations throughout West Texas and Northeastern New Mexico serving businesses and individuals. For more information, visit Member FDIC.

About Heartland Financial USA, Inc.
Heartland Financial USA, Inc. is a diversified financial services holding company with assets of approximately $13.2 billion. The company provides banking, mortgage, private client, investment, treasury management, card services, insurance and consumer finance services to individuals and businesses. Heartland currently has 115 banking locations serving 84 communities in Iowa, Illinois, Wisconsin, New Mexico, Arizona, Montana, Colorado, Minnesota, Kansas, Missouri, Texas and California. Additional information about Heartland Financial USA, Inc. is available at

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Forward-Looking Statements
This release, and future oral and written statements of Heartland, FB&T and AimBank and their management, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about FB&T’s acquisition of AimBank.  These forward-looking statements may include statements about the benefits of the transaction, including anticipated future results, cost savings and accretion to earnings.  Risks relating to the acquisition include the following: the businesses of AimBank and FB&T may not be combined successfully, or such combination may take longer than expected; the cost savings from the acquisition may be less than anticipated; credit and interest rate risks of AimBank may be greater than anticipated; and various difficulties associated with achieving the anticipated future financial results of FB&T after the transaction may occur.

In addition, this release, and future oral and written statements of Heartland and its management, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Heartland's and ABI’s financial condition, results of operations, plans, objectives, future performance and business. Although these forward-looking statements are based upon the beliefs, expectations and assumptions of Heartland's & ABI’s management, there are a number of factors, many of which are beyond the ability of management to control or predict, that could cause actual results to differ materially from those in its forward-looking statements. These factors, which are detailed in the risk factors in Heartland's Annual Report on Form 10-K filed with the Securities and Exchange Commission, contained, among others: (i) the strength of the local and national economy; (ii) the economic impact of past and any future terrorist threats and attacks and any acts of war; (iii) changes in state and federal laws, regulations and governmental policies as they impact the company's general business; (iv) changes in interest rates and prepayment rates of the company's assets; (v) increased competition in the financial services sector and the inability to attract new clients; (vi) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (vii) the potential impact of acquisitions and Heartland's ability to successfully integrate acquired banks; (viii) the loss of key executives or employees; (ix) changes in consumer spending; (x) unexpected outcomes of existing or new litigation involving the company; and (xi) changes in accounting policies and practices. All statements in this release, including forward-looking statements, speak only as of the date they are made, and Heartland & ABI undertake no obligation to update any statement in light of new information or future events.

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