Acquisition gives NM bank new sites

New Mexico Bank & Trust has acquired FNB New Mexico in a deal that includes six bank locations in the north and east parts of the state, according to a release.

As part of the acquisition, New Mexico Bank & Trust assumed all deposits and liabilities of FNB New Mexico, the release said.

The deal gives New Mexico Bank & Trust locations in Angel Fire, Clayton, Logan, Raton, Santa Rosa and Tucumcari.

The bank also acquired one branch from FirstBank & Trust located in Dalhart, Texas, assuming certain deposits and liabilities of FirstBank & Trust, according to the release.

With the acquisition, the bank now has about $2.35 billion in assets and 24 banking centers operating under its brand, making it the third-largest subsidiary of parent company Heartland Financial USA, the release said.