M&A Deal Summary

First Interstate Bank Acquires Northwest Bancorporation

On April 18, 2018, First Interstate Bank acquired financial services company Northwest Bancorporation for 17M USD

Acquisition Highlights
  • This is First Interstate Bank’s 10th transaction in the Financial Services sector.
  • This is First Interstate Bank’s 5th largest (disclosed) transaction.
  • This is First Interstate Bank’s 10th transaction in the United States.
  • This is First Interstate Bank’s 1st transaction in Washington.

M&A Deal Summary
Date 2018-04-18
Target Northwest Bancorporation
Sector Financial Services
Buyer(s) First Interstate Bank
Deal Type Add-on Acquisition
Deal Value 17M USD
Advisor(s) D.A. Davidson & Co. (Financial)
Witherspoon Kelley (Legal)

Target

Northwest Bancorporation

Spokane, Washington, United States
website
Northwest Bancorporation, Inc. is specializes in meeting the financial needs of individuals and small to medium-sized businesses, including professional corporations, by providing a full line of commercial, retail, mortgage and private banking products and services.

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Buyer(S) 1

Buyer

First Interstate Bank

Billings, Montana, United States

website

Category Company
Founded 1971
Sector Financial Services
Employees3,783
Revenue 1.1B USD (2022)
DESCRIPTION

First Interstate Bank is a financial holding company headquartered in Billings, Montana. It is the parent company of First Interstate Bank, a community bank offering a full range of internet, mobile and other banking and financial services throughout Montana, Wyoming, and South Dakota. First Interstate Bank was founded in 1971 and is based in Billings, Montana.

DEAL STATS #
Overall 10 of 13
Sector (Financial Services) 10 of 13
Type (Add-on Acquisition) 10 of 12
State (Washington) 1 of 1
Country (United States) 10 of 13
Year (2018) 1 of 3
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-08 Citizens Bancshares

Ville Platte, Louisiana, United States

Citizens Bancshares, Inc. is a provider of financial services in US.

Sell $46M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-11 Idaho Independent Bank

Coeur d'Alene, Idaho, United States

Idaho Independent Bank is a full-service community bank, with approximately $725 million in assets, $362 million in loans, $610 million in deposits, and $69 million in shareholders’ equity at June 30, 2018. IIB operates 11 branches throughout Idaho, with a large presence in both the greater Boise-Nampa area and the Coeur d’Alene markets.

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