Glacier Bancorp (GBCI) to Consolidate 11 Units into Single Bank

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Glacier Bancorp, Inc. (Nasdaq: GBCI) plans to combine its eleven banking subsidiaries into a single commercial bank. The bank subsidiaries, which operate in the states of Montana, Colorado, Idaho, Utah, Washington and Wyoming, will operate as separate divisions of Glacier Bank under the same names, management teams and division directors as before the consolidation. Following the consolidation, Glacier Bank will have $7.2 billion in assets and through its divisions will operate 102 branches.

As part of this consolidation, Glacier Bank will file with the appropriate federal and state bank regulators an application to merge the bank subsidiaries. The resulting bank Board of Directors and executive officers will be the Board of Directors and senior management team of Glacier Bancorp. The consolidation is expected to be completed in early second quarter of 2012, following regulatory approvals.

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