BUFFALO, Wyo., Sept. 9, 2014 (GLOBE NEWSWIRE) -- Buffalo Federal Bank, a wholly-owned subsidiary of Crazy Woman Creek Bancorp, Inc. (OTCQB:CRZY) today announced that it has completed the sale of its Casper Bank branch located at 740 Luker Lane, Evansville WY 82636 pursuant to a purchase and assumption entered into in May 2014. Pursuant to the sale, Platte Valley Bank - WY Bank has acquired $9.63 million in loans and $9.45 million in deposits from The Bank of Casper.
"The branch transfer to Platte Valley Bank – WY has been well received by the customers and staff alike," said Paul M. Brunkhorst, Buffalo Federal Bank's President and CEO. "The Casper community and the bank of Casper customers will continue to be well served with quality community banking service and products while the financial result from the sale of the location will fully meet Buffalo Federal Bank's objectives set forth when the purchase and assumption agreement was entered into."
FinPro Capital Advisors Inc. acted as financial advisor to Buffalo Federal Bank, Spidi & Fisch, PC served as legal counsel to Buffalo Federal Bank.
FORWARD-LOOKING STATEMENTS
Statements in this release that are not historical facts, including, but not limited to, statements concerning future operations, results or performance, are hereby identified as "forward-looking statements." Crazy Woman Creek Bancorp, Incorporated cautions that such "forward-looking statements," wherever they occur in this release or in other statements attributable to Crazy Woman Creek Bancorp, Incorporated are necessarily estimates reflecting the judgment of Crazy Woman Creek Bancorp, Incorporated senior management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the "forward-looking statements." Some factors that could affect the accuracy of such "forward-looking statements" include general economic conditions, especially in Wyoming; the performance of the capital markets; changes in interest rates, yield curves and interest rate spread relationships; changes in accounting and tax principles, policies or guidelines; changes in legislation or regulatory requirements; changes in the competitive environment in the market served by Crazy Woman Creek Bancorp, Incorporated; and changes in the loan portfolio and the deposit base of Crazy Woman Creek Bancorp, Incorporated. Crazy Woman Creek Bancorp, Incorporated disclaims any intent or obligations to update such "forward-looking statements."