North Cascades, Wheatland banks to merge in new division

You can probably look for a new bank sign near the Four Corners in the next few months. After the deal closes, North Cascades Bank will merge into Wheatland Bank to form Glacier Bancorp's new Wheatland Bank division, Glacier said earlier this month.

That depends on the agreement of the shareholders of their respective holding companies and banking regulators.

Community Financial Group, Inc., the Spokane-based holding company of Wheatland Bank, has entered into an agreement to join the Glacier Bancorp, Inc., the Montana-based holding company of North Cascades Bank.

Pending approval by Community Financial Group, Inc. shareholders and approval by banking regulators, Wheatland Bank will officially become part of Glacier Bancorp in the fourth quarter of 2023.

The new combined bank will operate with 23 branches and approximately 250 employees throughout eastern and central Washington. Susan Horton, Wheatland's president and chief executive officer, will continue to lead the new, expanded bank division in the same capacity.

"This is an exciting development for our employees, customers, communities, and shareholders. By joining forces, the new Wheatland Bank division ... becomes a market-leading bank franchise in eastern Washington," said Charlie Guildner, president of North Cascades Bank.

Ranking fourth in deposit market share, he said, the new Glacier division "will maximize the opportunities in the markets we serve, as well as new markets that many of our customers already operate in, including Spokane, the Tri-Cities, Moses Lake, Yakima, Ellensburg and more. ... Together, we will have the best combined banking team of any bank in the region."

Horton said Glacier is one of the strongest and highest performing banking companies in the nation, and their community banking model and decentralized culture "make them a perfect fit for our customers, employees and shareholders."