Glacier Bancorp's Chief Plans to Retire in 2015

Glacier Bancorp in Kalispell, Mont., is looking for a new president and chief executive.

The $7.9 billion-asset company said in a press release Wednesday that Michael Blodnick plans to retire next year. Glacier said it has already hired executive search firm Spencer Stuart to vet internal and external candidates in hopes of picking a successor by mid-2015.

"I am pleased that we are retaining an experienced search firm to assist us in this important process," Blodnick said in the release. "I'm confident we will identify an excellent successor to lead Glacier for many years to come."

Glacier ended a three-year M&A drought last year, agreeing to buy three banks. Blodnick said in April 2013 that Glacier, which had ample capital to pursue deals, had waited until sellers' expectations had become "more reasonable."