Press Releases
NEWS RELEASE
Date: January 13, 2025
Contact: Scott Anderson
Phone: 509-630-1647
For Immediate Release
Mountain West Bank joining forces with local Bank of Idaho team
Mountain West Bank’s holding company, Glacier Bancorp, Inc., signed a definitive agreement to acquire Bank of Idaho Holding Company, the Idaho Falls-based holding company of Bank of Idaho. The acquisition is expected to close in the 2nd quarter of 2025 pending approval by banking regulators and satisfaction of other closing conditions.
Bank of Idaho operates in three distinct markets. After close of the transaction, Bank of Idaho’s Treasure Valley branches will join Mountain West Bank, Division of Glacier Bank. The remaining Bank of Idaho branches in Eastern Idaho will join Citizens Community Bank, Division of Glacier Bank and the branches in Eastern Washington will join Wheatland Bank, Division of Glacier Bank.
“Bank of Idaho is a true community bank, and we are pleased to find a partner that shares the same vision, values and relationship banking model that has been core to our success over the years,” said Jeff Newgard, Bank of Idaho’s Chairman, President and CEO. “We are excited to join the Glacier family of banks and look forward to the opportunities and benefits this combination will bring to our clients, employees and shareholders.”
“We are delighted to welcome the Bank of Idaho customers to Mountain West Bank,” said Scott Anderson, Mountain West’s President and CEO. “Bank of Idaho’s footprint complements our current presence in this high-growth market. We have truly admired the impact Bank of Idaho has made on the community and are focused on fostering the relationships their team has developed with its customers.” Anderson also noted that “This acquisition is consistent with our history of adding high quality community banks to our proven banking model. We look forward to serving these new customers and continuing to invest in communities throughout the Treasure Valley.”
About Mountain West Bank, Division of Glacier Bank and Glacier Bancorp, Inc.
Glacier Bancorp, Inc., based in Kalispell, Montana, uses a community banking model that gives their local bank divisions autonomy in each market. This allows each community bank to continue serving the specific needs of each community, while offering the benefits of being part of a larger organization. Glacier Bancorp is the parent company for Glacier Bank and its bank divisions: Altabank (American Fork, UT), Bank of the San Juans (Durango, CO), Citizens Community Bank (Pocatello, ID), Collegiate Peaks Bank (Buena Vista, CO), First Bank of Montana (Lewistown, MT), First Bank of Wyoming (Powell, WY), First Community Bank Utah (Layton, UT), First Security Bank (Bozeman, MT), First Security Bank of Missoula (Missoula, MT), First State Bank (Wheatland, WY), Glacier Bank (Kalispell, MT), Heritage Bank of Nevada (Reno, NV), Mountain West Bank (Coeur d’Alene, ID), Foothills Bank (Yuma, AZ), Valley Bank (Helena, MT), Western Security Bank (Billings, MT), and Wheatland Bank (Spokane, WA).
Visit Glacier’s website at www.glacierbancorp.com.