Glacier Bancorp expanding to Texas through bank buy

Kalispell, Mont.-based Glacier Bancorp is expanding to Texas by acquiring Mount Pleasant-based Guaranty Bancshares in a $476.2 million, all-stock deal. .The deal is expected to close in the fourth quarter of the year. The deal is the 13th for the $3.2 billion Glacier Bancorp in the past 10 years, the most recent being its planned acquisition of Bank of Idaho Holding Co. As of March 31, Guaranty Bancshares had $3.2 billion in assets, $2.1 billion in total gross loans and $2.7 billion in total deposits. “Guaranty fits strategically and culturally within the unique Glacier business model and will allow us to enter a complementary state with an exceptional demographic profile, strong growth prospects and a business-friendly operating environment,” said Glacier Bancorp President and CEO Randy Chesler. “This acquisition continues our long history of consistently adding high-quality community banks to our proven banking model and we are very enthusiastic about the future opportunities this partnership will provide.” Guaranty Bancshares Chair and CEO Ty Abston said the deal “gives Guaranty added strength, with the support of a larger balance sheet and the resources to invest in the latest technologies and products to serve our existing and future customers.”