First Interstate Bank to Partner with Great Western Bank

First Interstate Bank, headquartered in Billings, Mont., yesterday announced a definitive agreement to partner with Great Western Bank (GWB), which is headquartered in Sioux Falls.

Under the terms of the agreement, which was unanimously approved by both parties’ Boards of Directors, the companies will unite under the First Interstate name and brand. Pending regulatory and shareholder approvals, the transaction is expected to close during the first calendar quarter of 2022; the conversion of GWB branches to First Interstate is expected to take place during the second calendar quarter of 2022.

“This is a transformative moment for our 53-year-old company,” said First Interstate President and CEO Kevin Riley. “The strategic and cultural alignment between our organizations is what makes this transaction so exciting, as we both pride ourselves on being community banks with a strong focus on relationship building, customer service and community outreach.”

With more than 170 locations throughout Arizona, Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota, GWB’s footprint complements the Pacific Northwest and Mountain Regions that First Interstate currently serves. Read more

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