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Montana company, Glacier Bancorp Inc., buys Pend Oreille Bank

A Montana-based company has acquired a commercial bank with offices in
Idaho and Washington.

Glacier Bancorp Inc., parent company of Mountain West Bank and several Montana community banks,
completed the deal with Pend Oreille Bank in a $10.4 million cash transaction, the company announced
Thursday.

Pend Oreille’s offices in Sandpoint, Idaho, and Newport, Wash., will become Mountain West branches and
increase Mountain West assets to about $500 million.
Glacier Bancorp officials no personnel changes are expected.
Mountain West already has offices in seven Idaho
communities and two Utah cities.

Glacier Bancorp, with total assets of $2.28 billion
at the end of last year, also is the parent company of
Glacier Bank in Kalispell and Whitefish, Valley Bank of
Helena, Big Sky Western Bank, First Security Bank of
Missoula and Western Security Bank of Billings.

Copyright 2003 Associated Press.

http://www.billingsgazette.com/index.php?id=1&display=rednews/2003/04/26/build/business/30-bank-deal.inc

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