FOR IMMEDIATE RELEASE
Contact: Stan Wilmoth, President and CEO
Phone: (775) 321-4110
April 3, 2019
HERITAGE BANK OF NEVADA TO JOIN GLACIER BANCORP IN NEW NEVADA-BASED DIVISION OF GLACIER BANK
RENO, NV- Heritage Bancorp (“Heritage”), the Reno-based holding company for Heritage Bank of Nevada, has entered into an agreement to join the Glacier Bancorp family of banks. Pending Board and regulatory approval, Heritage will officially be under the Glacier Bancorp umbrella in the third quarter of 2019. After transaction close, Heritage will continue to operate as a community bank under the same management team, and will be known as Heritage Bank of Nevada, division of Glacier Bank.
Stan Wilmoth, Heritage Bank’s President and CEO, says of the merger:
“Heritage Bank is a highly successful and profitable bank and has enjoyed growing and serving this community for nearly a quarter of a century. As we grow, we continue looking for additional opportunities for the bank. We want to provide additional deposit and loan products to our customers and enhance our lending abilities. We have determined that a banking partner is the optimal solution for our strategic needs and for further shareholder value.
“I am pleased to announce a partnership with Glacier Bancorp. Glacier’s community banking model aligns very well with our culture and approach to banking. Glacier Bank will enhance and expand the banking experience for our customers. We are excited to join the Glacier team and look forward to the opportunities and benefits this combination will bring to our clients, employees, and shareholders.”
All branch offices of Heritage Bank of Nevada will remain open and continue to meet customers’ banking needs. The focus of the bank continues to be to ensure that our loyal customers receive the community banking experience they have enjoyed for the last two decades, while benefiting from being part of the greater Glacier Bank infrastructure.
Customers can contact a banking representative from any branch to address questions regarding this announcement.
About Glacier Bancorp, Inc.
Glacier Bancorp, Inc. is the parent company for Glacier Bank, Kalispell and its bank divisions: First Security Bank of Missoula; Valley Bank of Helena; First Security Bank, Bozeman; Western Security Bank, Billings; and First Bank of Montana, Lewistown; all operating in Montana; as well as Mountain West Bank, Coeur d’Alene, operating in Idaho, Utah and Washington; First Bank, Powell, operating in Wyoming and Utah;
Citizens Community Bank, Pocatello, operating in Idaho; Bank of the San Juans,
Durango, operating in Colorado, and First State Bank, Wheatland, operating in Wyoming; North Cascades Bank, Chelan, operating in Washington; and The Foothills Bank, Yuma, operating in Arizona.
For more information, visit Glacier’s website atwww.glacierbancorp.com.
This news release includes forward-looking statements which describe management's expectations regarding future events and developments such as the benefits of the business combination transaction involving Glacier Bancorp and Heritage Bancorp, continued success of Glacier’s style of banking and the strength of the local economies in which Glacier operates. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely. In addition to discussions about risks and uncertainties set forth from time to time in Glacier’s public filings, factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, among others, the following possibilities: (1) local, national and international economic conditions are less favorable than expected or have a more direct and pronounced effect on Glacier than expected and adversely affect Glacier’s ability to continue its internal growth at historical rates and maintain the quality of its earning assets; (2) projected business increases following strategic expansion or opening or acquiring new banks and/or branches are lower than expected; (3) costs or difficulties related to the integration of acquisitions are greater than expected; or (4) legislation or regulatory requirements or changes adversely affect the businesses in which Glacier is engaged.
Member FDIC Equal Housing Lender
FOR IMMEDIATE RELEASE
January 14, 2019
HERITAGE BANK OF NEVADA