This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

First Interstate BancSystem, Inc. Announces Anticipated Branch Closures In Conjunction With Expected Merger Of First Interstate Bank And Mountain West Bank, National Association

On July 7, 2014, First Interstate BancSystem, Inc. (NASDAQ: FIBK) (“First Interstate”), parent company of First Interstate Bank, and Mountain West Financial Corp. (“Mountain West”), parent company of Mountain West Bank, National Association (“Mountain West Bank”) announced a July 31, 2014 closing date for the acquisition by merger of Mountain West by First Interstate (the “Parent Company Merger”).

First Interstate also announced that, subject to regulatory approval and the closing of the Parent Company Merger, it is targeting and expects the subsequent merger of Mountain West Bank into First Interstate Bank to occur in October 2014 (the “Bank Merger”). In conjunction with the expected Bank Merger, First Interstate today announced the anticipated closure of eight Mountain West Bank branches located in close proximity to existing First Interstate Bank branches. These anticipated closures are conditioned upon regulatory approval and closing of the Bank Merger and the closing of the Parent Company Merger.

First Interstate Bank currently operates 19 branch banking offices throughout the communities of Bozeman, Great Falls, Helena, Kalispell, Missoula, and Whitefish, Montana. Mountain West Bank currently operates 13 branch banking offices in these same communities. “Having multiple branches located so close to one another following the expected merger is impractical and inefficient. So, after much thought and careful consideration, we have decided to close or consolidate a number of Mountain West Bank branches,” said Ed Garding, President and CEO of First Interstate BancSystem, Inc. “This was certainly not an easy decision to make. However, the result will be a consolidated footprint with 79 branch locations across Montana, Wyoming and South Dakota, providing customers with convenient access to a larger network of branch banking offices, along with a comprehensive line of innovative products and services,” Garding continued.

In Missoula, three Mountain West Bank branches will be closed, including the Southside Branch located at 1821 South Avenue West, the Broadway Branch located at 301 E. Broadway, and the Reserve Street Branch located at 3301 Great Northern Avenue.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,790.19 +13.76 0.08%
S&P 500 1,979.92 -7.13 -0.36%
NASDAQ 4,748.3610 -32.9030 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs