05:19 PM EST, 01/13/2025 (MT Newswires) -- Glacier Bancorp ( GBCI ) said Monday it has agreed to acquire Bank of Idaho Holding.

The deal, which will result in a total consideration of $245.4 million based on Glacier shares at $47.70 on Jan. 10, will give Bank of Idaho Holding shareholders 1.100 Glacier shares for each Bank of Idaho Holding share, valuing Bank of Idaho shares at $52.47.

After completion, Bank of Idaho's operations will be integrated into three separate divisions of Glacier Bank. The Eastern Idaho operations will merge with Citizens Community Bank, the Boise operations will join Mountain West Bank, and the Eastern Washington operations will be incorporated into Wheatland Bank, the company said.

As of Sept. 30, Bank of Idaho had total assets of $1.3 billion, total loans of $1 billion and total deposits of $1.1 billion.

The transaction is expected to close in Q2.