DENVER, CO--(Marketwire -08/02/12)- Guaranty Bank and Trust Company, a Colorado-based community bank and wholly-owned subsidiary of Guaranty Bancorp (GBNK), today announced that it has completed the previously announced asset purchase agreement with privately held Private Capital Management, Inc. Private Capital Management is now a division of Guaranty Bank and Trust's Wealth Management Group.
Founded by industry veteran, Thomas E. Meade, Private Capital Management is a Denver-based firm that has been serving the financial planning and investment management needs of wealthy individuals and families across the United States for over a decade. This powerful combination of two Colorado-based companies will provide unparalleled financial services expertise to both individuals and businesses.
"The combination of Guaranty Bank and Trust's extensive banking products, local commitment and Front Range branch network with Private Capital Management's wealth management expertise and proprietary quantitative investment process further enhances our existing wealth management practice as we continue to assist individuals and businesses looking for a Colorado-based partner to help them achieve their financial goals," said Paul W. Taylor, Chief Executive Officer of Guaranty Bank and Trust.
Prior to starting Private Capital Management, Meade was the President of Fidelity Brokerage Services, Inc., a division of Fidelity Investments. He also served as President and COO of Kemper Securities Group Holdings and as Chairman, President and CEO of Denver-based Boettcher & Co.
"We are pleased to be part of Guaranty Bank and Trust," said Tom Meade, President of Private Capital Management. "The decision to join Guaranty Bank and Trust came after thoughtful consideration of a partnership that would be in the best interest of our clients. During discussions with CEO, Paul Taylor, and President, Michael Hobbs, it became clear that Guaranty Bank and Trust shares the same vision for serving the needs of clients while remaining focused on long-term relationships."
Meade continues to serve as President of Private Capital Management and there are no changes to the firm's proprietary quantitative investment process, financial planning or investment advisory services. Private Capital Management remains in Cherry Creek and all of its employees have been retained.
Financial terms of the deal were not disclosed.
About Guaranty Bank and Trust Company
Guaranty Bank and Trust Company, a wholly-owned subsidiary of Guaranty Bancorp (GBNK), is a Colorado-based community bank with $1.7 billion in assets and branches along the Front Range. The Bank provides banking and other financial services including commercial and industrial, real estate, construction, energy, consumer and agricultural loans throughout its targeted Colorado markets to consumers and small to medium-sized businesses, including the owners and employees of those businesses. The Bank also provides private banking, trust services, including personal trust administration, estate settlement, investment management accounts and self-directed IRAs. More information about Guaranty Bank and Trust Company can be found at www.GuarantyBankCO.com. Information about Guaranty Bancorp can be found at www.gbnk.com.
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