Iowa company completes Premier Valley Bank purchase

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.

Premier Valley formerly traded on Nasdaq under the stock symbol PVLY. Heartland Financial’s stock is listed on Nasdaq under the stock symbol HTLF.

This story was originally published December 1, 2015 at 10:52 AM with the headline "Iowa company completes Premier Valley Bank purchase."