Mark Moskvin and Maxim Yaroshewsky, owners of Latvian payments firm Transact Pro have bought Colorado National Bank (CNB) for an undisclosed amount.
The new owners have invested another $2 million to boost its capital position. A board of directors with John Sprengle, the former president and chief credit officer of CNB was also formed to act as a “point of contact” for customers.
Moskvin says: “Today we finalised a two year process to acquire a bank with over a century of history in its name. Our knowledge and experience will help to build innovative new banking services for the bank that will transform it into a modern bank for the 21st century.”