M&A Deal Summary

Glacier Bank Acquires Heritage Bank of Nevada

On April 3, 2019, Glacier Bank acquired financial services company Heritage Bank of Nevada for 241M USD

Acquisition Highlights
  • This is Glacier Bank’s 27th transaction in the Financial Services sector.
  • This is Glacier Bank’s 2nd largest (disclosed) transaction.
  • This is Glacier Bank’s 27th transaction in the United States.
  • This is Glacier Bank’s 1st transaction in Nevada.

M&A Deal Summary
Date 2019-04-03
Target Heritage Bank of Nevada
Sector Financial Services
Buyer(s) Glacier Bank
Deal Type Add-on Acquisition
Deal Value 241M USD
Advisor(s) D.A. Davidson & Co. (Financial)
Luse Gorman (Legal)

Target

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.

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Buyer(S) 1

Buyer

Glacier Bank

Kalispell, Montana, United States
Category Company
Founded 1955
Sector Financial Services
Employees3,438
Revenue 789M USD (2023)
DESCRIPTION

Glacier Bank is a regional bank holding company providing commercial banking services. Glacier Bank was founded in 1955 and is based in Kalispell, Montana.

DEAL STATS #
Overall 27 of 29
Sector (Financial Services) 27 of 29
Type (Add-on Acquisition) 26 of 28
State (Nevada) 1 of 1
Country (United States) 27 of 29
Year (2019) 2 of 2
Size (of disclosed) 2 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-16 First National Bank of Layton

Layton, Utah, United States

First National Bank of Layton (FNB Bancorp.) provides banking services to individuals and businesses throughout Utah with six banking offices located in Layton, Bountiful, Clearfield, and Draper. As of September 30, 2018, FNB had total assets of $326 million, gross loans of $243 million and total deposits of $278 million.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-18 Altabank

American Fork, Utah, United States

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.

Buy $934M
Mergr

Product

Company

Legal