Magazine : Archives : 1st Quarter 2022

Let’s Make a (Big) Deal

Glacier Bancorp closed its biggest deal yet on Oct. 1, 2021, acquiring Altabancorp, a $3.5 billion bank in American Fork, Utah. Population growth in the Beehive State, as Utah is known, has exploded over the past decade, growing by almost 20% since 2010, according to census data. Kalispell, Montana-based Glacier had a limited presence in the state before the acquisition closed. Now, “we were able to get into all the markets [we] want to be in up in Utah, [in] one fell swoop,” says Randall Chesler, CEO of the $21 billion bank, which has closed nine deals since 2015. “Strategically,...