Glacier Bancorp, Inc. - Common Stock (GBCI)

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Glacier Bancorp, Inc. (“Glacier” or the “Company”) (NASDAQ: GBCI) today announced the completion of its acquisition of AltabancorpTM (“ALTA”) (NASDAQ: ALTA), the bank holding company for AltabankTM, the largest community bank in Utah. Altabank provides banking services to individuals and businesses throughout Utah and southern Idaho with 25 branch locations from Preston, Idaho to St. George, Utah, and will operate as the newest banking division of Glacier Bank under the name “Altabank, Division of Glacier Bank”. Randy Chesler, Glacier's President and Chief Executive Officer, commented, "We are excited to welcome Altabank and their shareholders to the Glacier family and are very pleased with how smoothly the transaction process went and that the acquisition closed ahead of schedule.” At June 30, 2021, ALTA had total assets of $3.5 billion, total loans of $1.9 billion and total deposits of $3.2 billion. With the addition of ALTA, on a pro forma combined basis, Glacier would have total assets of $24.0 billion, total loans of $13.1 billion and total deposits of $19.9 billion at June 30, 2021.

Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Altabancorp (NasdaqGS: ALTA) to Glacier Bancorp, Inc. (NasdaqGS: GBCI). Under the terms of the proposed transaction, shareholders of Altabancorp will receive 0.7971 shares of Glacier for each share of Altabancorp that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.