Cheyenne State Bank Acquired by Hilltop Bank — Banking M&A

Hilltop Bank has completed its acquisition of Cheyenne State Bank in Wyoming, marking a closed, strategic add-on transaction. The deal expands Hilltop’s presence in the state with a new downtown Cheyenne location at 101 W. 19th Street, following the completion of the acquisition on February 27. At closing, Hilltop reported approximately $1.11 billion in assets and more than $1.7 billion in assets under management through its full-service trust and wealth management operations. The operational conversion of the acquired bank is scheduled for the weekend of March 13.

Both institutions operate in the regional banking market, with Hilltop headquartered in Casper and serving customers across Wyoming and beyond. The acquisition is positioned to accelerate service delivery in Cheyenne and deepen Hilltop’s footprint in a key Wyoming market, building on existing locations in Casper, Glenrock, Cheyenne, and Gillette. The addition also strengthens Hilltop’s ability to offer trust, wealth management, and related financial services to a broader customer base in the state.

While the transaction value was not disclosed, Hilltop’s reported post-closing scale underscores the bank’s continued growth through consolidation in community banking. The branch signage changes were implemented in early March, with the Cheyenne facility opening following the acquisition close and the systems and operations conversion to follow in mid-March.