M&A Deal Summary

First Interstate Bank Acquires Silver Run Bancorporation

On August 27, 2002, First Interstate Bank acquired financial services company Silver Run Bancorporation for 3M USD

Acquisition Highlights
  • This is First Interstate Bank’s 6th transaction in the Financial Services sector.
  • This is First Interstate Bank’s 8th largest (disclosed) transaction.
  • This is First Interstate Bank’s 6th transaction in the United States.
  • This is First Interstate Bank’s 3rd transaction in Montana.

M&A Deal Summary

Date 2002-08-27
Target Silver Run Bancorporation
Sector Financial Services
Buyer(s) First Interstate Bank
Deal Type Add-on Acquisition
Deal Value 3M USD
Advisor(s) Lindquist & Vennum LLP (Legal)

Target

Silver Run Bancorporation

Red Lodge, Montana, United States
Silver Run Bancorporation, Inc. is a provider of financial services.

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Buyer(S) 1

Buyer

First Interstate Bank

Billings, Montana, United States

Category Company
Founded 1971
Sector Financial Services
Employees3,481
Revenue 1.0B USD (2024)
DESCRIPTION

First Interstate Bank is a financial holding company 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 6 of 13
Sector: Financial Services M&A 6 of 13
Type: Add-on Acquisition M&A Deals 6 of 12
State: Montana M&A 3 of 5
Country: United States M&A 6 of 13
Year: 2002 M&A 1 of 1
Size (of disclosed) 8 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-05-24 Equity Bank

Wichita, Kansas, United States

Equity Bank is a full-service community bank with offices throughout Kansas and Missouri in the U.S.A. Equity Bank offers a full range of financial solutions, including commercial loans, consumer banking, mortgage loans, and treasury management services. Equity Bank was incorporated in 2002 and is based in Wichita, Kansas.

Buy $20M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-16 i_Tech

Billings, Montana, United States

i_Tech Corp., headquartered in Billings, Montana, is a regional data processing company, providing data technology and item processing services to 158 financial institutions throughout Montana, Wyoming, South Dakota, North Dakota, Colorado, Idaho, Oregon, Washington, Iowa, Wisconsin, Nebraska, Illinois and Minnesota. They also provide service for more than 750 ATMs in 10 states.

Sell $40M