Larimer Bancorporation, Inc.
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Batterson Johnson and Wang and two other venture capital firms formed Larimer Bancorporation in 1991 with the purchase of the First Interstate Bank of Fort Collins, Colorado. The bank had $300 million in assets and was a subsidiary of First Interstate Bancorp, a holding company with 67 owned and affiliated banks. The acquisition price was particularly attractive at the time compared with other Colorado bank acquisitions, following new state legislation permitting interstate banking. The strong bank management team continued to improve earnings, resulting in the sale of the bank in 1993 at a significant gain.
- Location: Fort Collins, Colorado