Western State Bank purchases Central Arizona Bank
Western State Bank has announced the purchase of Central
Arizona Bank located at 7001 N. Scottsdale Road, Suite 1000 in Scottsdale, Ariz..
Central Arizona Bank was approximately $31 million in total assets. Western
State Bank purchased all loans and deposits of the financial institution.
Western State Bank entered the Arizona market in 2007 when they opened a loan
production office in Chandler. In 2009, they became a full-service bank and opened a
new banking facility there in 2012. Western purchased National Bank of Arizona's
location in Casa Grande, AZ in 2012. Western's community-focused, relationship
banking philosophy has helped grow those two locations to over $130 million in deposits
and $120 million in loans. Over the past year, Western has generated over $30 million in
loan business in the Scottsdale area.
"By expanding into Scottsdale, Western can further expand our footprint in Arizona and
provide a competitive offering for business and personal banking customers. Western is
very excited to be in the Scottsdale community and we look forward to bringing our
relationship-style of banking to the market," said Brian Houkom, Western State Bank's
Western State Bank is a 111 year old employee-owned, community bank with assets
totaling over $575 million. The bank offers superior full-banking services, investments,
real estate financing to personal and business customers, as well as nationwide
equipment financing services. Western State Bank's bank locations are located in the
North Dakota communities of West Fargo, Fargo, Devils Lake, and Towner and in the
Arizona communities of Chandler, Casa Grande and Scottsdale.