Glacier Bancorp, Inc. Completes Acquisition of FNB Bancorp in Layton, Utah
May 01 2019 - 04:30PM
Glacier Bancorp, Inc. (“Glacier”) (NASDAQ:GBCI) today announced the
completion of its acquisition of FNB Bancorp (“FNB”), the bank
holding company for The First National Bank of Layton (“First
National Bank”), a community bank based in Layton, Utah. The
six branches of First National Bank and the four branches of
Glacier Bank operating in Utah will operate as a new division of
Glacier Bank under the name “First Community Bank Utah, division of
Glacier Bank.” As of March 31, 2019, FNB had total assets of $329
million, gross loans of $249 million and total deposits of $280
million.
About Glacier Bancorp, Inc.
Glacier Bancorp, Inc. is the parent company for
Glacier Bank, Kalispell, and its bank divisions: First Security
Bank of Missoula; Valley Bank of Helena; Western Security Bank,
Billings; First Bank of Montana, Lewistown; and First Security
Bank, Bozeman, all operating in Montana; as well as Mountain West
Bank, Coeur d’Alene, operating in Idaho, Utah and Washington; First
Bank, Powell, operating in Wyoming and Utah; Citizens Community
Bank, Pocatello, operating in Idaho; Bank of the San Juans,
Durango, and Collegiate Peaks Bank, Buena Vista, both operating in
Colorado; First State Bank, Wheatland, operating in Wyoming; North
Cascades Bank, Chelan, operating in Washington; The Foothills Bank,
Yuma, operating in Arizona; and First Community Bank Utah, Layton,
operating in Utah.
Visit Glacier’s website at
http://www.glacierbancorp.com.
Forward-Looking Statements
This news release includes or may imply
forward-looking statements pertaining to management’s expectations
regarding future events and developments such as the benefits of
the business combination transaction involving Glacier and FNB,
continued success of Glacier’s style of banking and the strength of
the local economies in which Glacier 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 Glacier’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 Glacier than expected and adversely affect
Glacier’s ability to continue its internal growth at historical
rates and maintain the quality of its earning assets; (2) the
merger transaction will not close when expected or at all because
required regulatory, shareholder or other approvals or conditions
to closing are not received or satisfied on a timely basis or at
all; (3) projected business increases following strategic expansion
or opening or acquiring new banks and/or branches are lower than
expected; (4) costs or difficulties related to the integration of
acquisitions are greater than expected; or (5) legislation or
regulatory requirements or changes adversely affect the businesses
in which Glacier is engaged.
Contact: Randall M. Chesler, CEO(406) 751-4722Ronald J.
Copher, CFO(406) 751-7706
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