Intermountain Bancorp Enters Into Merger Agreement With Teton Bancshares

The parent companies of two of Montana’s premiere community banks, Intermountain Bancorp, Inc. and Teton Bancshares, Inc., have entered into an agreement to merge. The subsidiary banks are First Security Bank, headquartered in Bozeman, and Teton Banks with offices in Fairfield, Choteau, and the Sun River Valley. It is anticipated that the parent-company merger will be complete in the second quarter of 2015, pending regulatory approval and other customary closing conditions.

This union will create one of the largest and most diversified community bank organizations in the state of Montana. Customers, local communities, and employees will benefit from the eventual combined operations. The merger will increase opportunities for advanced banking technologies, career growth, and community investment through lending and giving programs.

The historically rich culture of both banks makes for a powerful partnership. First Security Bank recently celebrated its 95th anniversary, having opened for business in 1919. Teton Banks’ charter goes back to 1909, and the bank has nearly 100 years of common family ownership.

First Security Bank
First Security Bank is a full service, locally-owned community bank with offices located in Bozeman, Belgrade, West Yellowstone, Big Sky, Three Forks, Fort Benton and Chester. They have total assets of approximately $675 million. Montana-owned and managed, the bank offers a full range of deposit products and financing for agricultural, commercial, consumer and real estate needs. First Security also offers a robust online and mobile banking platform at www.ourbank.com

Intermountain Bancorp, Inc. was advised by Craig Mancinotti of Austin Associates and Dave Chisholm of Christian, Samson & Jones law firm for the merger.

Teton Banks
Teton Banks is a full service, locally-owned bank with three offices and a conveniently located ATM network. The bank’s primary focus is on agriculture and community service with total assets of approximately $200 million. Teton Banks has consistently been highly rated by independent bank rating services. The bank offers all types of deposit products and a complete line of lending products including agricultural, consumer and residential real estate loans. Teton Banks can be found online at www.tetonbanks.com

Teton Bankshares, Inc. was advised by Jon Kudrna of the Great Falls-based Jardine, Stephenson, Blewett & Weaver law firm.

Contact:
Bruce Gerlach
President/CEO
Intermountain Bancorp, Inc.
406-585-3915
bruceg@ourbank.com

Mike Johnson
President/CEO
Teton Bancshares, Inc.
406-467-2531
Mike.Johnson@tetonbanks.com

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