Glacier Bancorp has agreed to acquire Bank of Idaho Holding Company in a transaction valued at $245.4 million, extending the Montana-based regional banking group's long-running acquisition programme. The deal represents Glacier's 26th bank acquisition since 2000 and its 12th announced transaction in the past 10 years. The transaction price implies a transaction value to tangible book value of 191.9%, up from 179.7% at the letter-of-intent stage as Glacier's share price rose.
Bank of Idaho is headquartered in Idaho Falls, Idaho, a state where Glacier already operates branches.
GLACIER'S FOOTPRINT
Glacier Bancorp's community bank divisions operate across Montana, Idaho, Wyoming, Colorado, Utah, Washington, Nevada and Arizona.
INTEGRATION
On completion, expected in the second quarter of 2025, Bank of Idaho's eastern Idaho operations will join Glacier's Citizens Community Bank division, its Boise operations will join Mountain West Bank and its eastern Washington operations will join Wheatland Bank.