Glacier Bancorp Announces Acquisition of Bank of Idaho Holding Co.
Deal News | Jan 13, 2025 | Globenewswire
Glacier Bancorp, Inc., headquartered in Kalispell, Montana, has announced a definitive agreement to acquire Bank of Idaho Holding Co. in a transaction valued at $245.4 million. This acquisition, subject to regulatory and shareholder approvals, will result in Bank of Idaho’s operations joining several Glacier Bank divisions and will strengthen Glacier Bancorp’s presence in Idaho and Eastern Washington. With the state of Idaho experiencing rapid growth, Glacier aims to secure its position as a leading community bank through this strategic expansion. Deemed a high-quality alignment in values and operational ethos, the acquisition is anticipated to close in the second quarter of 2025.
Sectors
- Banking
- Financial Services
Geography
- United States – Both companies, Glacier Bancorp and Bank of Idaho Holding Co., operate within the United States, specifically focusing on markets in Idaho and Eastern Washington.
- Idaho – The Bank of Idaho is based in Idaho Falls, Idaho, making this state a key geographic area for the acquisition's impact.
- Montana – Glacier Bancorp is headquartered in Kalispell, Montana, making this location central to the company's operations and strategic decisions.
Industry
- Banking – The acquisition involves two bank holding companies, Glacier Bancorp and Bank of Idaho Holding Co., reflecting the broader banking industry's ongoing consolidation trends.
- Financial Services – The transaction involves significant financial advisory and legal counsel, indicative of the financial services industry's role in facilitating mergers and acquisitions.
Financials
- $245.4 million – The aggregate consideration for the acquisition of Bank of Idaho Holding Co. by Glacier Bancorp.
- $52.47 – Value per BOID share in the transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Glacier Bancorp, Inc. | Bidding Company | Company | A bank holding company based in Kalispell, Montana, acquiring Bank of Idaho Holding Co. |
| Bank of Idaho Holding Co. | Target Company | Company | A community bank holding company headquartered in Idaho Falls, Idaho, being acquired by Glacier Bancorp. |
| D.A. Davidson & Co. | Financial Advisor | Company | Advised Glacier Bancorp on the acquisition. |
| Miller Nash LLP | Legal Counsel | Company | Provided legal counsel to Glacier Bancorp. |
| MJC Partners | Financial Advisor | Company | Advised Bank of Idaho Holding Co. on the acquisition. |
| Otteson Shapiro LLP | Legal Counsel | Company | Provided legal counsel to Bank of Idaho Holding Co. |