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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
January 20, 1999
GLACIER BANCORP, INC.
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
000-18911 81-0519541
(Commission File Number) IRS Employer Identification No.
P.O. Box 27
49 Commons Loop
Kalispell, MT 59901
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: 406-756-4200
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
Effective January 20, 1999, Glacier Bancorp, Inc. ("Glacier")
completed its pending acquisition of Big Sky Western Bank. The
acquisition was accomplished pursuant to a Plan and Agreement of Share
Exchange, dated as of October 20, 1998, as amended November 25, 1998 (the
"Agreement"). The Agreement was included as Appendix A to the Proxy
Statement/Prospectus dated December 8, 1998, previously filed by Glacier
as part of its Registration Statement on Form S-4 with the Securities and
Exchange Commission.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA, FINANCIAL INFORMATION, AND EXHIBITS
(a) Financial Statements - The requisite historical financial
information will be filed, as applicable, and as soon as
available, but no later than 60 days after this Report was
required to be filed.
(b) Pro forma Financial Information - The requisite pro forma
financial information will be filed, as applicable, and soon as
available, but no later than 60 days after this Report was
required to be filed.
(c) Exhibits.
(99.1) Press Release dated January 20, 1999 issued by Glacier
to announce the completion of the Acquisition of Big
Sky Western Bank.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: January 20, 1999
GLACIER BANCORP, INC.
By /s/ Michael J. Blodnick
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Michael J. Blodnick, President and
Chief Executive Officer
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Exhibit 99.1
GLACIER BANCORP, INC. COMPLETES SHARE EXCHANGE WITH BIG SKY WESTERN BANK
KALISPELL, Mont. -- Effective January 20, 1999, Glacier Bancorp, Inc. completed
its pending share exchange with Big Sky Western Bank of Big Sky, Montana. The
shareholders of Big Sky Western Bank, at a special shareholder meeting held on
January 13, 1999, overwhelmingly approved the transaction. All necessary
regulatory approvals have been obtained. Big Sky Western Bank shareholders will
be entitled to receive 250,000 new shares of common stock valued at
approximately $5.6 million. The total number of Glacier shares outstanding will
increase to approximately 8.6 million.
Glacier President and CEO, Michael J. Blodnick, and Big Sky Western Bank
President, Michael Richards, jointly announced that "the combination of Glacier
and Big Sky Western Bank will further enhance our western Montana banking
franchise. A number of opportunities also exist for Glacier and Big Sky Western
Bank to take advantage of synergies and additional resources in the lending
area. Also we can now deliver additional financial services to a broader
customer base." This transaction, which was the second business combination of
the year for Glacier (HUB Financial Corporation's merger was completed August
31, 1998), further enhances Glacier's strong western Montana banking presence by
accessing the growing Bozeman market.
Blodnick also stated "Big Sky Western, as with our other banking subsidiaries,
will continue to operate under its existing name and locations with its existing
local board of directors and management, which will continue to allow for the
same individual customer service and decision making that Big Sky Western Bank's
customers have come to expect. The bank has also assembled an excellent staff
and is poised to continue its strong asset growth."
Combined assets of the two organizations will be approximately $710 million with
over $77 million in shareholders' equity and market capitalization of nearly
$200 million. Headquartered in Kalispell, Montana, Glacier Bancorp, Inc.
conducts business from Glacier Bank, First Security Bank of Missoula, Glacier
Bank of Whitefish, Glacier Bank of Eureka, Valley Bank of Helena, and now Big
Sky Western Bank, all located in Montana.
Glacier Bancorp, Inc. stock is listed on the Nasdaq National Market System and
is traded under the symbol of GBCI.
