Glacier Bancorp, Inc. Completes Acquisition of Canon National Bank in Canon City, Colorado
November 02 2015 - 1:21PM
Glacier Bancorp, Inc. (NASDAQ:GBCI) today announced the completion
of its acquisition of Cañon Bank Corporation and its subsidiary
Cañon National Bank, a community bank based in Cañon City,
Colorado. Cañon National Bank provides banking services to
individuals and businesses in south central Colorado, with nine
banking offices located in Colorado Springs, Pueblo, Pueblo West,
Cañon City, Colorado City, and Florence. The branches of Cañon
National Bank have merged into Glacier Bank and become part of the
Bank of the San Juans banking division. At September 30, 2015
Cañon National Bank had total assets of $260 million.
About Glacier Bancorp, Inc.
Glacier Bancorp, Inc. is a regional bank holding company
providing commercial banking services in 88 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 Cañon Bank
Corporation, 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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