Glacier Bancorp, Inc. Completes Acquisition of TFB Bancorp, Inc. in Yuma, Arizona
May 01 2017 - 7:00AM
Glacier Bancorp, Inc. (NASDAQ:GBCI) today announced the completion
of its acquisition of TFB Bancorp, Inc. (“TFB Bancorp”) (OTC Pink:
TBBN), the holding company for The Foothills Bank, a community bank
based in Yuma, Arizona. The Foothills Bank provides banking
services to businesses and individuals in Arizona with four banking
offices located in Yuma, Prescott, and Casa Grande. The Foothills
Bank has merged into Glacier Bank and will operate as a separate
banking division under the name “The Foothills Bank, a division of
Glacier Bank” and with its existing management team. At March
31, 2017, TFB Bancorp, Inc. had total assets of approximately $360
million.
About Glacier Bancorp, Inc.
Glacier Bancorp, Inc. is a regional bank holding company
providing commercial banking services in 91 communities in Montana,
Idaho, Utah, Washington, Wyoming, Colorado, and Arizona. 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; Bank of the
San Juans, Durango, operating in Colorado; and The Foothills Bank,
Yuma, operating in Arizona. 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 TFB Bancorp, 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: Randall M. Chesler, CEO
(406) 751-4722
Ron J. Copher, CFO
(406) 751-7706
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