FOR IMMEDIATE RELEASE 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.”
Parkside initially entered the Denver market in 2019 through the opening of a loan production office in Cherry Creek that was subsequently converted into a limited-services branch office in late 2025. The acquisition of First American will augment Parkside’s Denver presence, adding a full-service bank that will serve as a platform for future growth. To ensure a smooth transition for First American’s clients, employees, and shareholders in the coming months, Jay Davidson will provide consulting services to the combined organization. Parkside will retain its office in Cherry Creek with a focus on growing its loan and wealth management business, which will ensure continuity in client service while enhancing local expertise, resources, and capabilities.
The transaction, which is subject to customary closing conditions including regulatory and First American shareholder approvals, is expected to close in the fourth quarter of 2026. Financial terms of the transaction were not disclosed. Stephens Inc. served as financial advisor and Armstrong Teasdale LLP served as legal advisor to Parkside. Hillworth Bank Partners served as financial advisor and Otteson Shapiro LLP served as legal advisor to First American.
About Parkside Financial Bank & Trust
Founded in 2008, Parkside Financial Bank & Trust is a client-focused financial services firm dedicated to delivering an uncommon partnership through integrated commercial banking, investment, and wealth management solutions. With offices in St. Louis and Denver, Parkside serves individuals, families, and businesses with a personalized, relationship-driven approach. The bank had $1.1 billion in assets and $907 million in loans as of June 30, 2026. Learn more at www.pfbt.com.
About First American State Bank
Founded in 1995, First American State Bank is a Colorado-based community bank committed to providing high-quality financial services and personalized support to individuals and businesses. With a strong focus on local relationships, First American has built a reputation for responsiveness, integrity, and client-centered service. The bank had $277 million in assets and $195 million in loans as of June 30, 2026. Learn more at www.firstamericanstatebank.com
No Offer or Solicitation
This press release is being provided for informational purposes only and does not constitute (i) an offer to purchase, nor a solicitation of an offer to sell, subscribe for, or buy any securities, (ii) an offer to exchange any securities, or (iii) the solicitation of any vote for approval of any transaction. There shall not be any offer, solicitation, sale, or exchange of any securities in any state or other jurisdiction in which such offer, solicitation, sale, or exchange is not permitted. First American Bancorp shareholders are advised to read the proxy statement/prospectus and any other relevant documents that will be distributed to shareholders prior to the Special Meeting of Shareholders that will be scheduled to vote on the proposed transaction.
For inquiries or additional information, please contact: Parkside Financial Bank & Trust Investor Relations (314) 290-8600 InvestorRelations@pfbt.com
