BUZZ-Glacier Bancorp jumps on $245 mln deal to buy Bank of Idaho

Reuters
15 Jan
BUZZ-Glacier Bancorp jumps on $245 mln deal to buy Bank of Idaho

** Shares of regional lender Glacier Bancorp GBCI.N rise as much as 5.4%; last up 4.7% at $50.40

** GBCI late Monday announced it had agreed to buy community lender Bank of Idaho BOID.PK in a $245.4 mln all-stock deal

** BOID shareholders will receive 1.1 shares of GBCI for each share held, valuing the lender at $52.47 apiece

** Deal represents a 43.7% premium to BOID's last close

** Transaction marks GBCI's 26th bank transaction since 2000

** Brokerage Stephens says BOID deal checks all the boxes of a "Glacier Deal", noting that it immediately boosts the bank's earnings

** Deal expected to close in the second quarter of 2025

** GBCI stock jumped 21.5% in 2024

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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