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Home » Store » Profitability » A Nonbank Buys Goldwater Bank in Arizona

A Nonbank Buys Goldwater Bank in Arizona

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Profitability

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It’s not every day – or every year, for that matter – that a nonbank purchases a federally insured depository. But it happened this month in Arizona. Well, sort of. This month, Kent Wiechert, owner and president of Westar Mortgage, Albuquerque, NM, closed on his purchase of Goldwater Bank, NA, a full-service bank with roughly $100 million in assets. The investment – no purchase price was disclosed – was a personal transaction entered into by Wiechert, but since he controls both ...
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