Glacier Bancorp Signs Definitive Agreement To Acquire Community Financial Group For ~$80.6M
Portfolio Pulse from Benzinga Newsdesk
Glacier Bancorp (GBCI) has signed a definitive agreement to acquire Community Financial Group (CFGW) for approximately $80.6 million. As of June 30, 2023, CFGW had total assets of $754 million, total loans of $475 million, and total deposits of $609 million. CFGW shareholders will receive 1.0931 shares of Glacier stock for each CFGW share.
August 08, 2023 | 9:35 pm
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Community Financial Group is being acquired by Glacier Bancorp for approximately $80.6 million. CFGW shareholders will receive 1.0931 shares of Glacier stock for each CFGW share.
The acquisition of CFGW by GBCI could potentially provide a premium to CFGW shareholders, as they will receive 1.0931 shares of GBCI for each CFGW share. This could positively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Glacier Bancorp's acquisition of Community Financial Group could potentially expand its asset base and customer reach. The deal is valued at approximately $80.6 million.
The acquisition of CFGW by GBCI could potentially increase GBCI's assets and customer base. This could lead to increased revenues and profitability in the future, which could positively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100