Citizens Community Bank owner to acquire Bank of Idaho
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The following is a news release from Citizens Community Bank.
IDAHO FALLS — Citizens Community Bank’s holding company, Glacier Bancorp, Inc., has signed a definitive agreement to acquire Bank of Idaho Holding Company, the Idaho Falls-based holding company of Bank of Idaho.
The acquisition is expected to close in the 2nd quarter of 2025 pending approval by banking regulators and satisfaction of other closing conditions.
Bank of Idaho operates in three distinct markets. After close of the transaction, Bank of Idaho’s eastern Idaho branches will join Citizens Community Bank, Division of Glacier Bank. The remaining Bank of Idaho branches in Idaho’s Treasure Valley will join Mountain West Bank, Division of Glacier Bank and the branches in Eastern Washington will join Wheatland Bank, Division of Glacier Bank.
“Bank of Idaho is a true community bank, and we are pleased to find a partner that shares the same vision, values and relationship banking model that has been core to our success over the years,” said Jeff Newgard, Bank of Idaho’s Chairman, President and CEO. “We are excited to join the Glacier family of banks and look forward to the opportunities and benefits this combination will bring to our clients, employees and shareholders.”
“We are excited and proud to welcome the Eastern Idaho Bank of Idaho customers to Citizens Community Bank,” said Nathan Christensen, Citizen’s President and CEO. “Bank of Idaho’s footprint complements our current presence in this high-growth market. We have truly admired the impact this franchise has had on its community, and are focused on fostering the relationships the Bank of Idaho team has developed with its customers.” Christensen also noted that “This acquisition is consistent with our history of adding high quality community banks to our proven banking model. We look forward to serving this customer base and continuing to invest in our local communities.”