Glacier Bancorp Inc. of Kalispell, Mont., said Monday that it has completed its acquisition of Bank of the San Juans in Durango, Colo.

Bank of the San Juans has two branches in Durango and Pagosa Springs. As of Sept. 30 it had $146 million of assets.

The acquisition brought Glacier into Colorado for the first time. It said Bank of the San Juans will operate as a separately chartered community banking subsidiary.

Mick Blodnick, the $5.2 billion-asset Glacier's president and chief executive, told American Banker in an interview last month that he would use the proceeds of a stock offering that raised $98 million to acquire companies as far south as New Mexico and Arizona.

Glacier has bought seven banks since 2003. It operates 88 branches in Colorado, Montana, Utah, Wyoming, Idaho, and Washington.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.