Heartland Financial USA Inc. has officially completed its acquisition of Fresno’s Premier Valley Bank, wrapping up a deal that was announced in late May. Premier Valley, which was the Valley’s fourth-largest locally based bank by assets, now operates as an independent subsidiary of Iowa-based Heartland Financial.
Premier Valley will keep its name and management team, including CEO J. Mike McGowan. Michael Martinez is the bank’s president.
The Premier Valley purchase was valued at $95.1 million in cash and Heartland Financial stock.