American Bancor adds scale in Montana with latest bank deal
American Bancor in Dickinson, N.D., has agreed to buy Prairie Mountain Bank in Great Falls, Mont.
The $1.2 billion-asset American did not disclose the price it will pay for the $90 million-asset Prairie Mountain.
The acquisition will give American its first operations in Montana’s Cascade County.
Prairie Mountain will be merged into American Bank Center, though it will continue to use its brand. Laura Vukasin, Prairie Mountain’s president and CEO, will join American as a market president.
“This is a great opportunity for American to grow its presence in Montana,” Dave Ehlis, American’s president and CEO, said in a Monday press release.
“We are thrilled that Prairie Mountain … has decided to join our team and we look forward to them continuing to provide local, community bank service to the Great Falls community," Ehlis added.
American was advised by Fredrikson & Byron and Eide Bailly. Prairie Mountain was advised by D.A. Davidson.