Press release from GlobeNewswire (a Nasdaq OMX company)
Glacier Bancorp, Inc. Completes Acquisition of North Cascades National Bank in Chelan, Washington
Wednesday, July 31, 2013
Glacier Bancorp, Inc. Completes Acquisition of North Cascades National Bank in Chelan, Washington17:05 EDT Wednesday, July 31, 2013
KALISPELL, Mont., July 31, 2013 (GLOBE NEWSWIRE) -- Glacier Bancorp, Inc. (Nasdaq:GBCI) today announced the completion of its acquisition of North Cascades Bancshares, Inc. and its subsidiary, North Cascades National Bank, a national banking association based in Chelan, Washington. North Cascades National Bank ("NCNB") provides community banking services from offices in Brewster, Chelan, East Wenatchee, Grand Coulee, Okanogan, Omak, Twisp, Waterville, and Wenatchee, Washington and will continue to operate as a division of Glacier Bank under the name "North Cascades Bank, a division of Glacier Bank." At June 30, 2013, NCNB had total assets of approximately $330 million.
About Glacier Bancorp, Inc.
Glacier Bancorp, Inc. is a regional bank holding company providing commercial banking services in Montana, Idaho, Utah, Washington, Wyoming and Colorado. Glacier Bancorp, Inc. is headquartered in Kalispell, Montana with operating divisions: Glacier Bank of Kalispell, First Security Bank of Missoula, Valley Bank of Helena, Big Sky Western Bank of Bozeman, Western Security Bank of Billings, First Bank of Montana, Lewistown; Mountain West Bank in Idaho, Utah and Washington; 1st Bank in Wyoming and Utah; Citizens Community Bank of Idaho, Bank of the San Juans in Colorado, First Bank of Wyoming and First State Bank in Wyoming. Visit Glacier's website at http://www.glacierbancorp.com.
This news release includes forward-looking statements which describe management's expectations regarding future events and developments such as future operating results, growth in loans and deposits, 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) changes in interest rates reduce interest margins more than expected and negatively affect funding sources; (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; (5) competitive pressure among financial institutions increases significantly; (6) legislation or regulatory requirements or changes adversely affect the businesses in which the Company is engaged.
CONTACT: Michael J. Blodnick (406) 751-4701 Ron J. Cophe (406) 751-7706