Glacier Bancorp agrees to acquire Bank of Idaho
IDAHO FALLS, IDAHO (KIFI) - Glacier Bancorp, Inc. announced Monday it has signed an agreement to acquire Bank of Idaho based in Idaho Falls.
They expected the acquisition to close in the 2nd quarter of 2025, pending approval from banking regulators.
Glacier Bancorp, Inc. is the holding company of Citizens Community Bank.
Once they close on the transaction, Bank of Idaho branches in eastern Idaho will join Citizen Community Bank. Branches located in the Treasure Valley will join Mountain West Bank and those in eastern Washington will join Wheatland Bank.
“Bank of Idaho is a true community bank, and we are pleased to find a partner that shares the same vision, values and relationship banking model that has been core to our success over the years,” said Jeff Newgard, Bank of Idaho’s Chairman, President and CEO in a news release . “We are excited to join the Glacier family of banks and look forward to the opportunities and benefits this combination will bring to our clients, employees and shareholders.”
“We are excited and proud to welcome the Eastern Idaho Bank of Idaho customers to Citizens Community Bank,” said Nathan Christensen, Citizen’s President and CEO in a news release. “Bank of Idaho’s footprint complements our current presence in this high-growth market. We have truly admired the impact this franchise has had on its community, and are focused on fostering the relationships the Bank of Idaho team has developed with its customers.” Christensen also noted that “This acquisition is consistent with our history of adding high quality community banks to our proven banking model. We look forward to serving this customer base and continuing to invest in our local communities.”
Glacier Bancorp, Inc. is based in Kalispell, Montana is the parent company of many bank divisions including Altabank (American Fork, UT), Bank of the San Juans (Durango, CO), Citizens Community Bank (Pocatello, ID), Collegiate Peaks Bank (Buena Vista, CO), First Bank of Montana (Lewistown, MT), First Bank of Wyoming (Powell, WY), First Community Bank Utah (Layton, UT), First Security Bank (Bozeman, MT), First Security Bank of Missoula (Missoula, MT), First State Bank (Wheatland, WY), Glacier Bank (Kalispell, MT), Heritage Bank of Nevada (Reno, NV), Mountain West Bank (Coeur d’Alene, ID), Foothills Bank (Yuma, AZ), Valley Bank (Helena, MT), Wheatland Bank (Spokane, WA) and Western Security Bank (Billings, MT).
