Community Bank to be bought by Glacier Bancorp
Hey savvy news reader! Thanks for choosing local.
You are now reading
1 of 3 free articles.
RONAN – One of Mission Valley’s oldest businesses will be sold this winter, but management says the sale means customers will gain something, instead of losing it.
Glacier Bancorp, Inc. announced the purchase of Community Bank, Inc. on Nov. 5. Officials say the purchase will be completed after the first quarter of 2015.
“We feel that this partner in Glacier will be a great addition to the Ronan community,” Community Bank President Gordon Zimmerman said. “We believe it is a perfect partner, not only for the customers, but also for our employees. It is the premiere bank in Montana. Our customers will be able to access additional tools that I could not provide up until this point because of the sheer size. The additional services we can offer our customers is far in excess of what we could offer.”
Community Bank has been run by the Olsson family of Ronan since 1910, and grew to include eight branches in Ronan, Polson, Pablo, and Missoula during its long history. Zimmerman said community has always been a priority for the establishment, and that is why Glacier Bancorp, Inc. was a perfect fit.
“Glacier has a long history of community support and that is one thing that attracted us to Glacier from the start, because we obviously have that commitment and wanted to make sure it continues. It’s great for customers, great for our community, and great for our employees.”
The purchase will be Glacier Bancorp’s 16th acquisition since 2000. After the merger, customers will have access to ATM services across western Montana, Idaho, and other states.
“It will be great for our business customers who travel,” Zimmerman said.
The bank will also be able to offer expanded loan services and other perks, he added.
“Our lending limit will be much higher,” Zimmerman said.
Customers will see the business undergo a re-branding effort in the next few months, and will see some changes as new checks and debit cards are eventually phased in.
“We want to take it and do it right,” Zimmerman said. “We want to make sure the customers are not inconvenienced.”
Mick Blodnick, Glacier Bancorp’s president and chief executive officer, said he was excited for the acquisition to occur.
“We are thrilled,” Blodnick said. “It’s something we’ve looked forward to for a long time. We’re so glad it finally came together. We’re glad to not only increase our share in Missoula and Polson but also enter new markets of Ronan and Pablo.”
Blodnick said that Glacier Bancorp might be bigger, but that it has a true commitment to its customers.
“Obviously we are a larger bank than what Community Bank was, but truly we are nothing more than a collection of community banks. We are proud of that fact. We try to be the best citizens that we can be for those communities.”
