First Liberty Capital Corporation, the holding company of The First National Bank of Hugo, and High Plains Banking Group, Inc., the holding company of High Plains Bank, jointly announced the signing of a definitive agreement whereby High Plains Banking Group, Inc. will acquire 100% of the shares of The First National Bank of Hugo. High Plains Bank and The First National Bank of Hugo will merge into one bank operating as High Plains Bank.

“We are excited to be joining forces with High Plains Bank,” said Randy Younger, President and CEO of The First National Bank of Hugo. “We know the team at High Plains well. We know they are committed to serving local communities and have a track record of creating jobs and investing in the communities where they do business. We are confident our customers will be well served by High Plains.”

“High Plains Bank has made a generational commitment to remain independent,” said John Creighton, CEO of High Plains Bank. “We are grateful for the opportunity to merge The First National Bank of Hugo-Limon into our operations. We will be a stronger organization better prepared to provide the highest level of banking services in all of our communities.”

The First National Bank of Hugo has three full-service bank branches. Hugo and Limon Colorado are located in Lincoln County on the Eastern Plains. The third branch is located in Leadville and operates as First Mountain Bank. “We are excited to have a larger footprint in Eastern Colorado and look forward to the opportunities to serve our agricultural roots,” Creighton said. “Working in mountain communities is a new opportunity for us and we look forward to expanding into the regions of Colorado where we do business.”

The merger of High Plains Bank and The First National Bank of Hugo bucks the trend of bank consolidation. Many community banks have been swallowed up by corporate banks. What follows is all too familiar: jobs in smaller communities are cut; lending to farmers and ranchers, as well as small businesses is severely curtailed and decisions are no longer made locally. High Plains Bank’s approach is the opposite, this merger represents a deliberate reinvestment in the local economies of all High Plains Bank communities.

The First National Bank of Hugo directors and staff will stay involved too. Randy Younger and Ryan Smithburg will join the High Plains Bank board of directors, after the merger is complete. In addition, several FNB Hugo shareholders plan to invest in High Plains Banking Group, Inc. Shareholders from both organizations are committed to the bank’s long-term success. High Plains Bank has made a commitment to retain all FNB Hugo staff who want to continue their banking careers. Randy Younger will retire from his role as bank President and CEO.

This strategic acquisition increases High Plains Bank’s overall scale. For small and medium-sized business clients in Longmont and the Metro area, this merger provides a significant advantage: greater access to capital to help businesses launch and grow.

The merger will not be immediate. The Federal Reserve and Colorado Division of Banking must formally approve the acquisition and merger and both banks must go through other regulatory procedures that could take 90 to 120 days. The two banks hope to have all necessary approvals in place to close in the first quarter or early second quarter of 2026.

For more information, please contact Kim Taylor via email: kim.taylor@highplainsbank.com or via phone: 303.776.2265.