Idaho Falls, Idaho-based Frontier Credit Union is acquiring First Citizens Bank of Butte, Mont..Financial terms of the deal have not been released. The acquisition is expected to close this year. First Citizens Bank of Butte CEO Casey Reilly called the merger “a natural fit. “I’m excited our customers will be in the hands of someone who knows what makes Montana special,” he said. “They know our community, share our values, and appreciate the uniqueness of Butte.” Frontier Credit Union has $656 million in assets. Established in 1977, First Citizens Bank of Butte had $75.2 million in assets, $52.5 million in deposits and $34.6 million in net loans and leases as of Dec. 31. The deal would be the sixth whole-bank acquisition by a credit union this year. Last month, MidFlorida Credit Union announced its pending acquisition of Tallahassee, Fla.-based Prime Meridian Bank. Also in April, Salem, Ore.-based Maps Credit Union announced it would acquire Oregon City-based Lewis & Clark Bank.
Idaho Falls, Idaho-based Frontier Credit Union is acquiring First Citizens Bank of Butte, Mont..Financial terms of the deal have not been released. The acquisition is expected to close this year. First Citizens Bank of Butte CEO Casey Reilly called the merger “a natural fit. “I’m excited our customers will be in the hands of someone who knows what makes Montana special,” he said. “They know our community, share our values, and appreciate the uniqueness of Butte.” Frontier Credit Union has $656 million in assets. Established in 1977, First Citizens Bank of Butte had $75.2 million in assets, $52.5 million in deposits and $34.6 million in net loans and leases as of Dec. 31. The deal would be the sixth whole-bank acquisition by a credit union this year. Last month, MidFlorida Credit Union announced its pending acquisition of Tallahassee, Fla.-based Prime Meridian Bank. Also in April, Salem, Ore.-based Maps Credit Union announced it would acquire Oregon City-based Lewis & Clark Bank.
