M&A Deal Summary

Columbia Bank Acquires Intermountain Community Bancorp.

On July 23, 2014, Columbia Bank acquired financial services company Intermountain Community Bancorp. from Castle Creek Capital for 122M USD

Acquisition Highlights
  • This is Columbia Bank’s 5th transaction in the Financial Services sector.
  • This is Columbia Bank’s 3rd largest (disclosed) transaction.
  • This is Columbia Bank’s 5th transaction in the United States.
  • This is Columbia Bank’s 1st transaction in Idaho.

M&A Deal Summary
Date 2014-07-23
Target Intermountain Community Bancorp.
Sector Financial Services
Buyer(s) Columbia Bank
Sellers(s) Castle Creek Capital
Deal Type Merger
Deal Value 122M USD
Advisor(s) Sandler O'Neill + Partners LP (Financial)
Graham & Dunn PC (Legal)

Target

Intermountain Community Bancorp.

Sandpoint, Idaho, United States
Intermountain operates as four separate divisions with nineteen banking locations in three states. Its banking subsidiary, Panhandle State Bank, offers financial services through northern Idaho offices in Sandpoint, Ponderay, Bonners Ferry, Priest River, Coeur d'Alene, Post Falls, Rathdrum and Kellogg. Intermountain Community Bank, a division of Panhandle State Bank, operates branches in southwest Idaho in Weiser, Payette, Nampa, Caldwell and Fruitland, as well as in Ontario, Oregon. Intermountain Community Bank Washington, a division of Panhandle State Bank, operates branches in downtown Spokane and Spokane Valley, Washington. Magic Valley Bank, a division of Panhandle State Bank, operates branches in Twin Falls and Gooding, Idaho.

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Buyer(S) 1

Buyer

Columbia Bank

Tacoma, Washington, United States
Category Company
Founded 1993
Sector Financial Services
Employees5,114
Revenue 2.0B USD (2023)
DESCRIPTION

Columbia Bank is a bank holding company whose wholly owned banking subsidiary is Columbia State Bank. Columbia State Bank provides a full range of banking services to small and medium-sized businesses, professionals and individuals throughout Washington, Oregon and Idaho. Columbia Bank was incorporated in 1993 and is based in Tacoma, Washington.

DEAL STATS #
Overall 5 of 9
Sector (Financial Services) 5 of 9
Type (Merger) 2 of 4
State (Idaho) 1 of 1
Country (United States) 5 of 9
Year (2014) 1 of 1
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-26 West Coast Bancorp.

Lake Oswego, Oregon, United States

West Coast Bancorp is a Northwest bank holding company headquartered in Oregon with $2.4 billion in assets, and the parent company of West Coast Bank and West Coast Trust Company, Inc. West Coast Bank operates 58 branches in Oregon and Washington. The Company offers a broad range of banking, investment, fiduciary and trust services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-09 Pacific Continental

Eugene, Oregon, United States

Pacific Continental Corp. is a provider of financial services in US. Pacific Continental Corporation operates as a holding company of Pacific Continental Bank.

Buy $644M

Seller(S) 1

SELLER

Castle Creek Capital

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1992
PE ASSETS 750M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Castle Creek Capital is a private investment firm that makes control investments in U.S.-based community banks with less than $10 billion of assets. The firm specializes in operating, recapitalizing and strategically refocusing US based banks. Castle Creek targets smaller, healthier banks that are under-performing or lack critical mass. Castle Creek offers the resources to then implement a roll-up acquisition program. Castle Creek Capital LLC was founded in 1992 and is based in Rancho Santa Fe, California.

DEAL STATS #
Overall 5 of 15
Sector (Financial Services) 5 of 15
Type (Merger) 3 of 5
State (Idaho) 1 of 1
Country (United States) 5 of 15
Year (2014) 1 of 2
Size (of disclosed) 8 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-23 MBT Financial

Monroe, Michigan, United States

MBT Financial is an independently-owned community bank that offers a complete range of services to commercial and retail clients. MBT Financial was founded in 1858 and is based in Monroe, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-01 The BANKshares

Melbourne, Florida, United States

BankFIRST has developed a well deserved reputation as an innovator within the financial community; a leader in providing the highest level of quality service and social responsibility.

Sell -
Mergr

Product

Company

Legal