Continuing its expansion into other Rocky Mountain states, Glacier Bancorp Inc. in Kalispell, Mont., has a deal to acquire the $146 million-asset Bank of the San Juans in Durango, Colo., for $22.7 million in cash and stock.
Glacier, a multibank holding company, has grown to $5 billion of assets largely through acquisitions in Montana, Utah, Wyoming, and Idaho in recent years. The 10-year-old Bank of the San Juans would be Glacier's first bank in Colorado.
Bank of the San Juans would retain its name, its charter, and its management team.
The deal, announced late Tuesday, is expected to close next quarter.