Glacier to buy Colo. Bank

Glacier Bancorp, Inc., Kalispell, Mont., is purchasing First National Bank of the Rockies, Grand Junction, Colo..The purchase would round out the $7.8 billion Glacier's presence on Colorado's Western Slope. First National has branches in northwestern Colorado, and Glacier currently owns Bank of San Juans, Durango, with three branches in southwestern Colorado..As of March 31, First National had assets of $343 million, loans of $132 million and deposits of $305 million. The bank has 10 branches in Grand Junction, Steamboat Springs, Meeker, Rangely, Craig, Hayden and Oak Creek, Colo..The boards of directors of both companies have approved the transaction, which is subject to regulatory approval. It is expected to close in the third quarter..The acquisition is Glacier's 15th since 2000 and its third in the past 15 months. It acquired North Cascades National Bank, Chelan, Wash., last July and First State Bank, Wheatland, Wyo., last May.. "This combination allows us to continue to expand in Colorado's Western Slope, a very attractive market that we have targeted for continued expansion," said Mick Blodnick, Glacier's president and CEO. "The region offers attractive long-term growth prospects with a solid economic base of energy, agriculture, tourism, mining and healthcare.".Glacier owns 13 banks operating 110 branches in Colorado, Idaho, Montana, Utah, Washington and Wyoming..Glacier was advised in the transaction by D.A. Davidson & Co., as financial advisor, and Graham & Dunn, P.C. as legal counsel. FNBR Holding Corporation was advised by St. Charles Capital LLC as financial advisor, and Swift and Bramler, LLC, as legal counsel.