Glacier Bancorp, Inc. Announces Acquisition of State Bank Corp. in Lake Havasu City, Arizona
Glacier Bancorp, Inc. (GBCI)
Last glacier bancorp, inc. earnings: 4/23 04:30 pm
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Source: GlobeNewswire
KALISPELL, Montana, Sept. 30, 2019 (GLOBE NEWSWIRE) -- Glacier Bancorp, Inc. (“Glacier” or the “Company”) (NASDAQ: GBCI) today announced the signing of a definitive agreement to acquire State Bank Corp. (“SBC”) (OTC Pink: SBAZ), the bank holding company for State Bank of Arizona, a community bank headquartered in Lake Havasu City, Arizona. The combined entity will operate as Foothills Bank, continuing its over 20 years of serving Arizona communities. The acquisition marks Glacier’s 23rd announced acquisition since 2000 and its 12th announced transaction in the past seven years. State Bank of Arizona provides banking services to individuals and businesses in Arizona with ten banking offices located in Bullhead City, Cottonwood, Kingman, Lake Havasu City, Phoenix, Prescott Valley and Prescott. As of June 30, 2019, State Bank of Arizona had total assets of $678.6 million, total loans of $413.6 million and total deposits of $592.0 million. The boards of Glacier and SBC unanimously appr
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