Joint Announcement of Agreement for Western Commerce Bank, Carlsbad, NM to Acquire Western Bank of Clovis, Clovis, NM

CARLSBAD, N.M. and CLOVIS, N.M., Oct. 12, 2022 /PRNewswire/ -- Western Commerce Bancshares of Carlsbad, Inc. and its wholly owned subsidiary, Western Commerce Bank, Carlsbad, New Mexico, and Western Bancshares of Clovis, Inc. and its wholly owned subsidiary, Western Bank of Clovis, Clovis, New Mexico, announced today that they have entered into an agreement whereby Western Commerce Bancshares of Carlsbad would acquire Western Bancshares of Clovis and its wholly owned subsidiary, Western Bank of Clovis. Upon closing of the transaction, expected in early first quarter of 2023, Western Bank of Clovis will be merged with and into Western Commerce Bank. The transaction is subject to receipt of customary regulatory and shareholder approvals.