Feb 26, 2013 4:24 PM by Dennis Bragg - KPAX News
KALISPELL - Glacier Bancorp is adding another community bank to its portfolio of outlets across the region, this time purchasing First State Bank in Wyoming.
The Kalispell-based regional bank holding company that serves 60 different communities in the region, with banks in Montana, Idaho, Utah, Washington, Wyoming and Colorado. That includes Glacier Bank and First Security Bank of Missoula.
Glacier will acquire First State in a deal with Wheatland Bankshares, Inc. based on a transfer of shares and $10.6 million in cash under the deal that was announced on Monday.
First State had total assets of $281 million, with $179 million in loans and $249 million in deposits, as of Dec. 31.
The acquisition marks Glacier's 13th since 2000, and its fourth in Wyoming.
"We're thrilled to be adding First State Bank to our family of banks," stated Mick Blodnick, Glacier's President and Chief Executive Officer.
"This combination not only adds one of Wyoming's top performing banks to our Company, it also provides us with a very talented and highly respected management team and staff," he added.