BOZEMAN - A Bozeman bank first started nearly 100 years ago is now being purchased.
Glacier Bancorp is acquiring First Security Bank. First Security was first founded in Bozeman in 1919.
It's the largest locally headquartered bank with $1 billion in total assets.
First Security has locations in five southern Montana communities in Gallatin County and in six agriculture-intensive northern Montana communities.
In its own literature, Glacier describes itself as a company of banks doing business in seven western states.
The company says First Security in Bozeman is a good fit with Glacier's other banks, is low risk, and will solidify Glacier's place in Montana.
Glacier already owns Big Sky Western bank offices in the Bozeman area.
The firm says it will combine Big Sky Western and First Security locations under a new name, First Security Bank of Bozeman.
In northern Montana, the offices will combine with Glacier's First Bank of Montana and adopt a new name, First Bank of Montana.
Glacier says there are many reasons for the acquisition. It points to the strong Gallatin County economy, with Bozeman ranked as the fourth-fastest growing micropolitan area in the U.S.
Glacier says Gallatin County has a population that's expected to grow nearly 10% in the next five years.
It says the newly combined banks will be able to give customers more attention and better service.
The combined banks will now control almost 35% of the local banking market.