Glacier Bancorp jumps on $245 mln deal to buy Bank of Idaho
14/01/2025 19:09
** 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;))