56Chevy
12 years ago
Glacier Bancorp, Inc. Announces Acquisition of First State Bank in Wheatland, Wyoming
Date : 02/25/2013 @ 9:00PM
Source : GlobeNewswire Inc.
Stock : Glacier Bancorp, Inc. (MM) (GBCI)
Quote : $17.54 0.09 (0.52%) @ 5:15PM
Glacier Bancorp, Inc. (Nasdaq:GBCI) today announced the signing of a definitive agreement to acquire First State Bank, a community bank based in Wheatland, Wyoming. The acquisition marks Glacier's 13th acquisition since 2000 and its fourth in Wyoming. First State Bank provides community banking services to individuals and businesses from three banking offices in Wheatland, Torrington and Guernsey. As of December 31, 2012 the bank had total assets of $281 million, gross loans of $179 million and total deposits of $249 million.
The boards of Glacier and Wheatland Bankshares, Inc. (First State Bank's holding company) unanimously approved the transaction, which is subject to regulatory approval and other customary conditions of closing. The transaction provides for the payment to Wheatland Bankshares, Inc. shareholders of $10.62 million in cash and 1,652,000 shares of Glacier common stock, so long as the average closing price of Glacier stock is between $13.50 and $16.50. Based on the closing price of $16.66 for Glacier shares on February 25, 2013, the transaction would result in the delivery of 1,636,135 shares and result in an aggregate value of $37.9 million. As of December 31, 2012, Wheatland Bankshares, Inc. had consolidated tangible equity of $25.95 million and consolidated trailing twelve month earnings of $3.45 million. Upon closing of the transaction, which is anticipated to take place in the second quarter, First State Bank will be merged into Glacier Bank and operate as a separate bank division doing business under its existing name.
"We're thrilled to be adding First State Bank to our family of banks," stated Mick Blodnick, Glacier's President and Chief Executive Officer. "This combination not only adds one of Wyoming's top performing banks to our Company, it also provides us with a very talented and highly respected management team and staff. Two additional benefits of the merger will be the geographic expansion into Southeast Wyoming, one of the healthiest states in the nation, and it will bring additional diversification to our loan portfolio, with their strong commitment to agriculture," Blodnick said. "First State Bank has an enviable thirty year record of serving their communities, posting strong earnings, outstanding asset quality, and solid growth. They're everything we look for in a partner." Blodnick also noted the transaction will be immediately accretive to Glacier's earnings.
Mike Daly, Chairman, CEO and President of Wheatland Bankshares, Inc., commented, "We are delighted to join the Glacier family of banks. We maintain our community banking approach with local decision-making and a genuine commitment to personalized community banking. At the same time, we benefit from access to Glacier's products, services, and substantial capital resources to fund future growth in our region. The combination is clearly a win-win for our shareholders, our employees, and most importantly, our customers."
Glacier management will review additional information regarding the transaction in a conference call beginning at 8:30 a.m. MST on Tuesday, February 26, 2013. The call may be accessed by dialing 877-561-2748 and the conference ID is 13818698. A slide presentation to accompany management's commentary may be accessed from Glacier's February 25, 2013 8-K filing with the SEC or at http://www.snl.com/IRWebLinkX/presentations.aspx?iid=1023792.
Glacier was advised in the transaction by D.A. Davidson & Co., as financial advisor, and Graham & Dunn, P.C. as legal counsel. First State Bank was advised by St. Charles Capital as financial advisor, and Fairfield and Woods, P.C., as legal counsel.
http://ih.advfn.com/p.php?pid=nmona&article=56453035
56Chevy
12 years ago
Glacier Bancorp, Inc. Announces Quarterly Dividend
Date : 06/27/2012 @ 7:28PM
Source : GlobeNewswire Inc.
Stock : Glacier Bancorp, Inc. (MM) (GBCI)
Quote : $15.61 0.23 (1.50%) @ 8:00PM
Glacier Bancorp, Inc.'s (Nasdaq:GBCI) Board of Directors, at a meeting held on June 27, 2012, declared a quarterly dividend of $.13 per share. The dividend is payable on July 19, 2012, to owners of record on July 10, 2012. The Company has paid a dividend for 109 consecutive quarters.
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http://ih.advfn.com/p.php?pid=nmona&article=52918096
56Chevy
13 years ago
Glacier Bancorp, Inc. Announces Quarterly Dividend
PR Newswire
KALISPELL, Mont., Dec. 28, 2011/PRNewswire/ -- Glacier Bancorp, Inc.'s (Nasdaq: GBCI) Board of Directors, at a meeting held on December 28, 2011, declared a quarterly dividend of $.13 per share. The dividend is payable on January 19, 2012, to owners of record on January 10, 2012.
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http://ih.advfn.com/p.php?pid=nmona&article=50558463
56Chevy
13 years ago
Glacier Bancorp, Inc. to Consolidate Bank Subsidiaries
Glacier Bancorp, Inc. (Nasdaq GS: GBCI) announced today that it plans to combine its eleven banking subsidiaries into a single commercial bank. The bank subsidiaries, which operate in the states of Montana, Colorado, Idaho, Utah, Washington and Wyoming, will operate as separate divisions of Glacier Bank under the same names, management teams and division directors as before the consolidation. Following the consolidation, Glacier Bank will have $7.2 billion in assets and through its divisions will operate 102 branches.
As part of this consolidation, Glacier Bank will file with the appropriate federal and state bank regulators an application to merge the bank subsidiaries. The resulting bank Board of Directors and executive officers will be the Board of Directors and senior management team of Glacier Bancorp. The consolidation is expected to be completed in early second quarter of 2012, following regulatory approvals.
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http://ih.advfn.com/p.php?pid=nmona&article=50802759
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