M&A Deal Summary

Glacier Bank Acquires Altabank

On May 18, 2021, Glacier Bank acquired financial services company Altabank for 934M USD

Acquisition Highlights
  • This is Glacier Bank’s 28th transaction in the Financial Services sector.
  • This is Glacier Bank’s largest (disclosed) transaction.
  • This is Glacier Bank’s 28th transaction in the United States.
  • This is Glacier Bank’s 3rd transaction in Utah.

M&A Deal Summary

Date 2021-05-18
Target Altabank
Sector Financial Services
Buyer(s) Glacier Bank
Deal Type Add-on Acquisition
Deal Value 934M USD
Advisor(s) Keefe, Bruyette, & Woods, Inc. (Financial)
Jones Day (Legal)

Target

Altabank

American Fork, Utah, United States
website
Altabancorp is the bank holding company for Altabank, a full-service bank, providing loans, deposit and cash management services to businesses and individuals through 25 branch locations from Preston, Idaho to St. George, Utah. AltabankTM is a community bank in Utah with total assets of $3.5 billion. Its clients have direct access to bankers and decision-makers, who work with clients to understand their specific needs and offer customized financial solutions. AltabankTM has been serving communities in Utah and southern Idaho for more than 100 years.

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Buyer(S) 1

Buyer

Glacier Bank

Kalispell, Montana, United States

website


Category Company
Founded 1955
Sector Financial Services
Employees2,837
Revenue 892M USD (2022)
DESCRIPTION

Glacier Bank is a regional bank holding company providing commercial banking services in 79 communities in Montana, Idaho, Utah, Washington, Wyoming and Colorado. Glacier Bank was founded in 1955 and is based in Kalispell, Montana.


DEAL STATS #
Overall 28 of 29
Sector (Financial Services) 28 of 29
Type (Add-on Acquisition) 27 of 28
State (Utah) 3 of 3
Country (United States) 28 of 29
Year (2021) 1 of 1
Size (of disclosed) 1 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-03 Heritage Bank of Nevada

Reno, Nevada, United States

Heritage Bank of Nevada provides banking services to individuals and businesses throughout Northern Nevada with seven banking offices located in Carson City, Gardnerville, Reno, and Sparks. As of December 31, 2018, Heritage Bank of Nevada had total assets of $829.7 million, gross loans of $595.6 million and total deposits of $720.5 million.

Buy $241M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-08 Wheatland Bank

Spokane, Washington, United States

Wheatland Bank is an Eastern Washington community bank that provides various banking products and services for individuals and businesses. It offers checking, saving, and individual and business retirement accounts. Wheatland Bank is based in Spokane, Washington.

Buy -