Kansas-based Sunflower Financial Inc. and Colorado-based First Western Financial Inc. announced Friday the mutual termination of their definitive merger agreement, dated Sept. 22, 2014.
A joint news release noted that although the original rationale for the merger had merit, the parties determined that terminating the merger was in the best interest of both companies and their respective shareholders at this time. The termination of the merger agreement has been approved by the board of directors of both parties.
In association with the termination, each party will release the other from all obligations with respect to the merger transaction, bear its own fees in connection with the transaction and is free to pursue other strategies.
Sunflower Financial Inc. is the parent company of Sunflower Bank.