This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Stocks in this article: FIBK

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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs