High Plains Banking Group, Inc., parent of High Plains Bank, announced the signing of a definitive agreement whereby High Plains Banking Group will acquire 100% of the shares of The First National Bank of Hugo. High Plains Bank and The First National Bank of Hugo will merge into one bank operating as High Plains Bank.
Olsen Palmer LLC served as financial advisor to High Plains Banking Group, Inc.
The Federal Reserve and Colorado Division of Banking must formally approve the acquisition and merger and the parties anticipate securing all necessary approvals to close the transaction in the first quarter or early second quarter of 2026.
Olsen Palmer is the #1 ranked sell-side bank M&A advisor nationwide – and top 3 overall – based on the number of transactions advised upon in 2025, according to S&P Global.