Parkside Financial, Inc. to Acquire First American Bancorp

St. Louis, MO and Greenwood Village, CO — September 2, 2026 — Parkside Financial, Inc. (“Parkside”), the parent company of Parkside Financial Bank & Trust, a Missouri-based community bank, and First American Bancorp (“First American”), the parent company of First American State Bank, a Greenwood Village, Colorado-based community bank, jointly announced they have entered into a definitive agreement whereby Parkside Financial, Inc. will acquire First American Bancorp and First American State Bank in a stock and cash transaction. Upon completion of the merger, First American State Bank will merge with and become a part of Parkside Financial Bank & Trust. 

This acquisition marks a significant step in Parkside’s continued growth in the Colorado market and reinforces its commitment to serving clients as an uncommon partner through a fully integrated banking and wealth management platform. Following the completion of the transaction, the combined entity will have approximately $1.4 billion in assets, $1.1 billion in loans, and $1.1 billion in deposits. 

“First American has built a strong legacy of relationship-based banking in Colorado,” said James Wagner, Chief Executive Officer and Co-Founder of Parkside Financial Bank & Trust. “We are excited to welcome the First American team, its clients, and shareholders to Parkside. By bringing our organizations together, we can deliver a more comprehensive and seamless experience backed by expanded resources and capabilities.” 

“This is an opportunity to build on the strengths of two respected banking organizations,” said Andrew Hereford, Bank President and Co-Founder of Parkside Financial Bank & Trust. “First American brings a talented team, a strong core deposit base, and deep commercial and consumer banking expertise that complement Parkside’s existing capabilities. Together, we will be well positioned to support businesses and their owners with local decision-making, sophisticated credit solutions, and the financial strength needed to meet their evolving banking needs.” 

Following the completion of the transaction, First American State Bank clients will transition to Parkside Financial Bank & Trust, gaining access to a broader suite of commercial banking services, investment advisory, and comprehensive wealth planning. The combined organization will continue to prioritize personalized service, while offering enhanced tools and expertise to support clients’ evolving financial needs. 

“Parkside shares our commitment to putting clients first and building meaningful, long-term relationships,” said Jay Davidson, Chief Executive Officer and Founder of First  American State Bank. “We are confident this transition will provide significant benefits to our clients, employees, and shareholders, and we look forward to becoming part of the Parkside team.”