Glacier Bancorp, Inc. Completes Acquisition of Community Bank, Inc. in Ronan, Montana
March 02 2015 - 1:21PM
Glacier Bancorp, Inc. (Nasdaq:GBCI) today announced the completion
of its acquisition of Montana Community Banks, Inc. and its
subsidiary, Community Bank, Inc., a community bank based in Ronan,
Montana. Community Bank provides banking services to individuals
and businesses in western Montana, with eight banking offices
located in Missoula, Polson, Ronan, and Pablo. The branches of
Community Bank have merged into Glacier Bank and become part of the
Glacier Bank and First Security Bank banking divisions. At
December 31, 2014 Community Bank had total assets of $175
million.
About Glacier Bancorp, Inc.
Glacier Bancorp, Inc. is a regional bank holding company
providing commercial banking services in 82 communities in Montana,
Idaho, Utah, Washington, Wyoming and Colorado. Glacier Bancorp,
Inc. is headquartered in Kalispell, Montana, and is the parent
company for Glacier Bank, Kalispell and Bank divisions First
Security Bank of Missoula; Valley Bank of Helena; Big Sky Western
Bank, Bozeman; Western Security Bank, Billings; and First Bank of
Montana, Lewistown, all operating in Montana; as well as Mountain
West Bank, Coeur d'Alene operating in Idaho, Utah and Washington;
Citizens Community Bank, Pocatello, operating in Idaho; 1st Bank,
Evanston, operating in Wyoming and Utah; First Bank of Wyoming,
Powell and First State Bank, Wheatland, each operating in Wyoming;
North Cascades Bank, Chelan, operating in Washington; and Bank of
the San Juans, Durango, operating in Colorado.
Visit Glacier's website at
http://www.glacierbancorp.com
Forward-Looking Statements
This news release includes forward-looking statements, which
describe management's expectations regarding future events and
developments such as the benefits of the business combination
transaction involving the Company and Montana Community Banks,
Inc., continued success of the Company's style of banking and the
strength of the local economies in which it operates. Future events
are difficult to predict, and the expectations described above are
necessarily subject to risk and uncertainty that may cause actual
results to differ materially and adversely. In addition to
discussions about risks and uncertainties set forth from time to
time in the Company's public filings, factors that may cause actual
results to differ materially from those contemplated by such
forward looking statements include, among others, the following
possibilities: (1) local, national and international economic
conditions are less favorable than expected or have a more direct
and pronounced effect on the Company than expected and adversely
affect the company's ability to continue its internal growth at
historical rates and maintain the quality of its earning assets;
(2) projected business increases following strategic expansion or
opening or acquiring new banks and/or branches are lower than
expected; (3) costs or difficulties related to the integration of
acquisitions are greater than expected; or (4) legislation or
regulatory requirements or changes adversely affect the businesses
in which the Company is engaged.
CONTACT: Michael J. Blodnick
(406) 751-4701
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