Business
Two become one: Big Sky Western and First Security set to combine
Published
6 years agoon
Posted By
Outlaw PartnersBy Bay Stephens EBS Editorial Assistant
BIG SKY – Glacier Bancorp, Inc., a regional multistate bank headquartered in Kalispell as well as the holding company for Big Sky Western Bank, has signed to acquire Intermountain Bancorp, Inc., based in Bozeman, which is the holding company for First Security Bank.
According to an Oct. 26 press release from First Security: “Pending board and regulatory approval, First Security will officially be under the Glacier Bancorp umbrella in early 2018. The new relationship will eventually lead to combined locations for First Security Bank and Big Sky Western under the First Security Bank name.”
Still in the preliminary stages, it’s too early to tell how the two organizations will come together, including how the distinct boards will be affected. However, employment doesn’t appear to be at risk here in Big Sky.
“Branch locations are being evaluated right now on the basis of customer convenience and we are not intending any layoffs in Big Sky,” First Security President and CEO Steve Wheeler said.
Although the effect on individual accounts can’t be fully spoken for at this point, Wheeler said account holders stand to benefit.
“For First Security Bank customers, [the acquisition] means a wider service area and also the availability of additional loan programs,” Wheeler said. First Security customers would be able to bank at any division of Glacier Bancorp, including locations in Montana, Idaho, Utah, Washington, Wyoming, Colorado and Arizona.
“We’re proud that Glacier Bancorp recognizes our legacy and leadership and that they want to partner with us and retain our name and brand,” Wheeler said.
The acquisition also means more assets and holdings for Glacier Bancorp. According to a Glacier Bancorp press release, First Security bank had $1 billion in assets, $658 million in gross loans and total deposits of $847 million as of Sept. 30.
According to Securities and Exchange Commission financial statements, as of Dec. 31, 2016, Glacier Bancorp had $9.5 billion in total assets, and $7.4 billion in deposits and $5.6 billion in loans receivable.
Glacier Bancorp’s ninth announced acquisition in the past five years, the bank employs a community banking model that allows local banks relative autonomy to serve the communities in which they are situated.
“I’m excited to be a part of combining these two great banking organizations and I look forward to continuing to support our community’s financial services needs,” said Jim Ness, president and CEO of Big Sky Western. “Both First Security and Big Sky Western have long-standing traditions of being focused on the customers and communities we serve, and together we will be that much stronger and that much more involved. For the benefit of our customers in southern Montana, we have just assembled the A-team.”
Assuming everything is approved, change will be slow in coming. Full integration of Big Sky Western and First Security would follow the official acquisition around February 2018. The banks will send out updates as decisions are finalized.
The Outlaw Partners is a creative marketing, media and events company based in Big Sky, Montana.
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We all are familiar with using a limited palette, but do you use one? Do you know how to use a
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We all are familiar with using a limited palette, but do you use one? Do you know how to use a limited palette to create different color combinations? Are you tired of carrying around 15-20 different tubes when you paint plein air? Have you ever wanted to create a certain “mood” in a painting but failed? Do you create a lot of mud? Do you struggle to achieve color harmony? All these problems are addressed in John’s workbook in clear and concise language!
Based on the bestselling “Limited Palatte, Unlimited Color” workbook written by John Pototschnik, the workshop is run by Maggie Shane and Annie McCoy, accomplished landscape (acrylic) and plein air (oil) artists,exhibitors at the Big Sky Artists’ Studio & Gallery and members of the Big Sky Artists Collective.
Each student will receive a copy of “Limited Palette, Unlimited Color” to keep and take home to continue your limited palette journey. We will show you how to use the color wheel and mix your own clean mixtures to successfully create a mood for your paintings.
Each day, we will create a different limited palette color chart and paint a version of a simple landscape using John’s directives. You will then be able to go home and paint more schemes using the book for guidance.
Workshop is open to painters (oil or acrylic) of any level although students must have some basic knowledge of the medium he or she uses. Students will be provided the book ($92 value), color wheel, value scale and canvas papers to complete the daily exercises.
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Please join the Arts Council of Big Sky for free music from Jacob Rountree at the Wilson Hotel Lobby Bar from 5-7 p.m.
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Please join the Arts Council of Big Sky for free music from Jacob Rountree at the Wilson Hotel Lobby Bar from 5-7 p.m. on April 24.
Jacob Rountree is an alternative/indie songwriter living in the stunning alpine of Montana. Contemplative yet playful, his lyric forward style is reflective of his love for philosophy, poetry and quantum physics.
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Trivia from 7 to 9 p.m. at The Waypoint in Town Center. Participation is free, food and beverages available.
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Trivia from 7 to 9 p.m. at The Waypoint in Town Center. Participation is free, food and beverages available.
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(Wednesday) 7:00 pm - 9:00 pm
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The Waypoint
50 Ousel Falls Rd