National, international expansion eyed as sale of Pikes Peak National Bank confirmedEditor's note: The following edited press release is from Pikes Peak National Bank, a Colorado Springs institution headquartered at 2401 W. Colorado Ave.
Business leaders with the West Side Commercial Club started the bank in 1957 as the Pikes Peak Bank of Commerce.
Jan. 16, 2018
Antoun Sehnaoui today announced that his purchase of Pikes Peak National Bank has been finalized. The U.S. Comptroller of the Currency regulator's review period has been completed with no objections raised.
Sehnaoui, who is chairman and CEO of the Lebanese bank, Société Générale de Banque au Liban (SGBL), had been seeking to enter the U.S. market for over two years and identified Pikes Peak as an excellent opportunity based on the bank's solid management under an experienced, professional leadership team, its high level of regulatory scrutiny and its national charter which allows for exciting growth opportunities.
“This is the beginning of a new and exciting chapter for me as well as for the great team at Pikes Peak, which I'm pleased to announce will remain in place,” Sehnaoui said. “Since my days as a student at the University of Southern California, I have dreamed of owning a bank in the United States. I was educated here and gained my first experience working on Wall Street. I love this country and believe that the United States is one of the best places in the world to conduct business.”
One of the most important reasons Sehnaoui was interested in Pikes Peak was the strong management team and great employees. It was of paramount importance that the bank maintain the strong personal relationships it has developed with its customers. Sehnaoui will become chairman of Pikes Peak while retaining the management team and employees under the leadership of its current president, Robin Roberts.
Sehnaoui plans to expand the bank nationally and eventually internationally.
“I see a bright future for the bank,” Sehnaoui said. “We plan to grow and expand here in the United States and eventually overseas. This is just the beginning.”
From a press release