KALISPELL – A Montana bank holding company, Glacier Bancorp Inc., says it will acquire Bank of the San Juans, a community bank based in Durango, Colo.
The acquisition marks Glacier’s first entry into Colorado.
Bank of the San Juans has two offices in Durango and one in Pagosa Springs, Colo. As of June 30, the bank had total assets of $146 million.
Glacier Bancorp, based in Kalispell, is a regional multi-bank holding company with ten banking subsidiaries in 53 communities in Montana, Idaho, Utah, Washington, and Wyoming.
As of June 30, Glacier had total assets of $5 billion.
The boards of Glacier and Bank of the San Juans Bancorporation unanimously approved the transaction, which is subject to regulatory approval.