Amador Bancshares, Inc. and BBS Corp. 

Announce Merger Agreement

PRESS RELEASE

Las Cruces and Socorro, New Mexico — Amador Bancshares, Inc. (“Amador”) and BBS Corp. (“BBS”) today jointly announced the signing of a definitive merger agreement, pursuant to which Amador will acquire BBS. In conjunction with the acquisition, First State Bank (“First State Bank”) will merge with and into Citizens Bank of Las Cruces (“Citizens Bank”), creating a combined New Mexico community bank with over $1.41 billion in assets.

 

Headquartered in Las Cruces, New Mexico, Amador is the bank holding company of Citizens Bank, which had approximately $1.17 billion in assets as of March 31, 2026. Founded in 1970, Citizens Bank has 137 employees and operates nine banking locations across Southern and Central New Mexico and in El Paso, Texas.

 

Based in Socorro, New Mexico, BBS is the bank holding company of First State Bank, which had approximately $186.0 million in assets as of March 31, 2026. Founded in 1947, First State Bank has 28 employees and operates four banking locations in Socorro, Magdalena, and Reserve, New Mexico.  

 

Pending regulatory and BBS shareholder approval, the transaction is expected to close in the fourth quarter of 2026. The combined bank, which will operate under the Citizens Bank brand, will operate 13 banking locations.

 

No immediate changes are planned once the transaction is finalized. Travis Hillman, who leads Citizens Bank as its President and CEO, will continue in this role in the combined organization.

 

“We are delighted to welcome the customers and employees of First State Bank into the Citizens Bank family,” said Mr. Hillman.  “This partnership brings together two community-focused organizations that share a deep passion towards relationship-driven banking.  Our combined customers will continue to see and feel the same personal attention and care they have come to know, expect and trust.”

Cuatro Bursum, CEO of First State Bank commented, “The cultural synergies and alignment between Citizens Bank and First State Bank is undeniable.  I’ve personally known members of the Citizens Bank team since my childhood and feel our banks share a common approach to banking and a shared commitment to our communities.  This combination with Citizens Bank is a great outcome for our customers, employees and communities.  In addition, we are excited to offer our customers more options with an enhanced array of banking products and branch locations.”

Performance Trust Capital Partners, LLC served as the financial advisor and Fenimore Kay Harrison LLP served as the legal advisor to Amador.  Performance Trust delivered a fairness opinion to Amador’s board of directors. 

 

Olsen Palmer LLC served as the financial advisor and Bradley Arant Boult Cummings LLP served as the legal advisor to BBS.

 

About Amador Bancshares, Inc.

Amador opened its doors for business in 1970 in Las Cruces, New Mexico. Amador had approximately $1.17 billion in total assets as of March 31, 2026, and operates nine full-service locations stretching across Southern and Central New Mexico and in El Paso, Texas. The bank’s mission is to provide and deliver the best financial services the first time, every time, through their core values of respect, integrity, professionalism, teamwork, performance, and communication. For more information about Citizens Bank of Las Cruces, please visit https://www.citizenslc.com/.

 

About BBS Corp.

BBS is a New Mexico corporation and the bank holding company for First State Bank, a New Mexico-chartered commercial bank based in Socorro, New Mexico. First State Bank was founded in 1947 and operates four full-service locations in central New Mexico. As of March 31, 2026, BBS Corp. had total assets of approximately $186.0 million. For more information about First State Bank, please visit https://www.socorrobanking.com/#.

 

No Offer or Solicitation

This press release is for informational purposes only and shall not constitute an offer to purchase or a solicitation of an offer to sell or exchange any securities or a solicitation of any proxy, vote or approval, and there shall not be any such offer or solicitation in any jurisdiction in which such offer or solicitation is not permitted.