Glacier Bancorp, Inc. Receives Regulatory Approval For Acquisition Of Six Montana Branches From HTLF Bank; Transaction Is Projected To Be ~$0.03 Per Share, Or 1.6%, Accretive To Glacier's 2024 Estimated EPS, Given The Expected Partial Year Impact And Excluding One-Time Transaction-Related Expenses, And ~$0.07 Per Share, Or 3.1%, Accretive To Glacier's 2025 Estimated EPS
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Glacier Bancorp, Inc. (GBCI) has received regulatory approval to acquire six Montana branches from HTLF Bank, a subsidiary of Heartland Financial USA, Inc. (HTLF). The transaction, expected to close in July 2024, involves branches with $463 million in deposits and $296 million in loans. It is projected to be $0.03 per share accretive to GBCI's 2024 EPS and $0.07 per share accretive to 2025 EPS, excluding one-time expenses. This acquisition aims to strengthen Glacier's presence in Montana.
April 18, 2024 | 8:41 pm
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NEUTRAL IMPACT
Heartland Financial USA, Inc. (HTLF) is selling six Montana branches to Glacier Bancorp, which is expected to close in July 2024. The branches have $463 million in deposits and $296 million in loans.
While the sale of branches is significant for HTLF, the impact on its stock price is less direct than for GBCI. The effect depends on how the market perceives the sale's impact on HTLF's strategic positioning and balance sheet.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Glacier Bancorp's acquisition of six HTLF Bank branches is expected to be accretive to its EPS by $0.03 in 2024 and $0.07 in 2025, excluding one-time costs. This strategic move aims to expand Glacier's Montana footprint.
The acquisition is directly related to GBCI and is expected to have a positive impact on its earnings per share, indicating a likely increase in stock price in the short term due to the projected accretive effect on EPS.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100