Alamorgordo, NM – 575.437.9334
Las Cruces, NM – 575.521.8100
Arizona Lending – 480.305.2145
Toll Free – 888.702.5266
BANK'34 was quite literally founded on a dream. It was originally organized (as Alamogordo Federal Savings and Loan Association) as an institution whose principal purview was to help area residents afford to buy their own homes. There is no more fundamental dream in America than that of home ownership, and we have been powering that dream since 1934.
The BANK'34 name was chosen based on the founding year it was established. Our name addresses our years of experience and our obvious financial stability. The year also shares that we were founded on values of a much more value-oriented time.
Not much in the world has stayed the same since that year, but our essential notion of helping customers achieve their hopes and desires certainly has. This is the essence of who we are, and this is why our founding year is right in our name.
Today, this philosophy has a broader application to our customers. BANK'34, of course, does much more than provide home loans. There's checking, savings, business accounts and any number of other financial offerings. In all of these services, however, a core belief runs consistently throughout: We help our customers because we believe in them. Their win is our win. And nothing makes us more proud than being part of their success.
We've chosen to partner with our customers not because of how they look on paper, but because of how they are as people. And we've chosen to partner with some very, very good people. By extension, that means we get to work with the finest individuals in our community. And what a rare and honorable privilege that is.
A good bank working with good people, helping them achieve the dreams that are most important to them. We've been honored to be a part of these achievements since 1934. And our name, our brand - our bank - promises to treat our customers with the respect their closest-held dreams deserve, every single day.
BANK'34 is an institution that is unchanging in its belief, willingness and ability to power its customers' dreams. Let's talk about that home loan. Let's talk about your new business. Let's partner for your success. Let's dream big. Let's get down to brass tacks. Let's work toward those brighter horizons. In other words, BANK'34 - LET'S MAKE IT POSSIBLE!
Welcome to BANK'34. Got a dream? Then it's our job to help you achieve it. It happens through our experienced and trusted staff, along with our signature human touch customer service. We've been dedicated to this kind of approach since we were founded in 1934 - which is why we chose "BANK'34" as our name. It's who we've always been. And it's who we'll always be.
Pictured left to right: James D. Harris, Jill Gutierrez, Randal L. Rabon, William F. Burt, and Don P. Van Winkle
Click on name for their profileRandal L. Rabon Chairman
Click on name for their profileJill Gutierrez Corporate President, Chief Executive Officer & Director
Alamogordo Financial Corp. (the "Company") is the stock holding company of BANK'34. Click on the following hyperlink to view statements of beneficial ownership filed by directors and executive officers (and greater than 10% stockholders) pursuant to Section 16 of the Securities Act of 1934.
For more corporate and stock information, click Here
|FOR IMMEDIATE RELEASE
June 26, 2013
President & CEO
ALAMOGORDO, NEW MEXICO, June 26, 2013 - BANK’34 and its parent corporation Alamogordo Financial Corp. (OTCQB: ALMG), headquartered in Alamogordo, New Mexico, and Bank 1440 (OTCQB: BFFO), headquartered in Phoenix, Arizona, jointly announced the execution of an agreement and plan of merger for the two community banks.
The announcement was issued by Randal L. Rabon, Chairman of the Board of Directors of BANK'34, and Michael Mandell, Chairman of the Board of Directors of Bank 1440. "Our respective boards and executive management teams share a common vision for this opportunity, that being a true union of complementary community banks," said Mr. Rabon. Mr. Mandell confirmed these sentiments, "Randy and I are committed to combining two community banks in a manner that serves the best long term interests of our respective customers, communities, employees and shareholders."
In connection with the transaction, common and preferred shareholders of Bank 1440 will have the right to elect to receive either cash or shares of Alamogordo Financial Corp. common stock, or a combination, subject to exchange ratios and proration procedures set forth in the merger agreement. Based upon Alamogordo Financial Corp's. closing price as of June 25, 2013, the transaction is valued at $3.41 per share of Bank 1440 stock or approximately $7.6 million in the aggregate.
The merger transaction is subject to customary closing conditions, including approval by Bank 1440 shareholders and applicable banking regulators. Alamogordo Financial Corp. intends to file a registration statement on Form S-4 with the Securities and Exchange Commission with respect to its shares of common stock to be issued in the transaction.
Following the merger with Bank 1440, BANK'34 is projected to have assets above $260 million and a tangible common equity to tangible asset ratio exceeding 11%. Bank 1440 branches will become branches of BANK'34. The combined business franchise will include four full-service banking center locations, including Alamogordo and Las Cruces in southern New Mexico and Peoria and Phoenix in Maricopa County, Arizona.
Jill Gutierrez, Chief Executive Officer of BANK'34, will continue to serve in this same capacity after the merger. Ms. Gutierrez stated, "In an era of big banks, we are committed to the preservation of a true community banking model across the entire BANK'34 franchise. Bank 1440's dedicated employees will endure as the faces, heart and soul of the BANK'34 franchise in Arizona."
BANK'34 was chartered in 1934. Bank 1440 was chartered in 2007. Both franchises offer a complement of consumer and business banking services. In addition to market diversification, the combined business models will create enhanced product lines and expertise across the entire franchise, including SBA lending and residential mortgages.
Keefe, Bruyette & Woods, Inc, acted as financial advisor to BANK'34 and Alamogordo Financial Corp. and Luse Gorman Pomerenk & Schick, P.C. acted as its legal counsel. FIG Partners, LLC acted as financial advisor to Bank 1440 and Fenimore, Harrison, Kay & Ford, LLP acted as its legal counsel.