Notes, News and Views on Community Banking

Montana banks enter into deal.Glacier Bancorp, Inc., Kalispell, Mont., has signed an agreement to acquire First State Bank, Wheatland, Wyo. First State Bank has three offices and total assets of $281 million..The transaction, approved by the boards of directors of both organizations, provides for the payment to WheatlandBankshares, Inc., shareholders of $10.62 million in cash and 1,652,000 shares of Glacier common stock, so long as the average closing price of Glacier stock is between $13.50 and $16.50. (WheatlandBankshares is the holding company for First State Bank.).Based on the closing price of $16.66 for Glacier shares on Feb. 25, the transaction would result in the delivery of 1,636,135 shares and result in an aggregate value of $37.9 million. Upon closing, which is anticipated in the second quarter, First State Bank will be merged into Glacier Bank and operate as a separate bank division doing business under its existing name..Glacier was advised by D.A. Davidson & Co., as financial advisor, and Graham & Dunn, P.C. as legal counsel. First State Bank was advised by St. Charles Capital as financial advisor, and Fairfield and Woods, P.C., as legal counsel..SHAZAM BOLT$ goes live at 200+ financial institutions.After less than 60 days on the market, SHAZAM BOLT$, the mobile app offered by the SHAZAM network, is live at more than 200 of the network's participating financial institutions. The app, available to smartphone and tablet users, allows debit cardholders to check balances, set parameters for email alerts, and eventually, initiate person-to-person transfers. SHAZAM BOLT$ is an extension of SHAZAM's fraud-prevention services, alerting cardholders directly to potentially fraudulent activity on their accounts.