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KALISPELL, Mont./MOUNT PLEASANT, Texas - Glacier Bancorp, Inc. (NYSE:GBCI), a $4.8 billion market cap regional bank with a 3.17% dividend yield, and Guaranty Bancshares, Inc. (NYSE:GNTY) announced Tuesday they have signed a definitive agreement for an all-stock acquisition valued at approximately $476.2 million. According to InvestingPro analysis, Glacier currently trades above its Fair Value, with a P/E ratio of 22.7x.
Under the terms of the agreement, Guaranty shareholders will receive 1.0000 share of Glacier stock for each Guaranty share, valuing each Guaranty share at $41.58 based on Glacier’s closing price on June 23.
The transaction, unanimously approved by both companies’ boards, will add Guaranty’s $3.2 billion in assets, $2.1 billion in loans, and $2.7 billion in deposits to Glacier’s operations. This marks Glacier’s 27th bank acquisition since 2000 and its 13th announced transaction in the past decade.
Following the anticipated completion in the fourth quarter of 2025, Guaranty Bank & Trust will operate as "Guaranty Bank & Trust, Division of Glacier Bank," becoming Glacier’s 18th separate banking division.
"This is a compelling opportunity to further expand our presence in the Southwest," said Randy Chesler, Glacier’s President and CEO, in the press release statement. "Guaranty fits strategically and culturally within the unique Glacier business model."
Ty Abston, Guaranty’s Chairman and CEO, noted that the bank will maintain its relationship banking model while gaining "added strength, with the support of a larger balance sheet and the resources to invest in the latest technologies and products."
The transaction remains subject to regulatory approvals, Guaranty shareholder approval, and other customary closing conditions.
Stephens Inc. served as financial advisor to Glacier, while Keefe Bruyette & Woods advised Guaranty on the transaction.
In other recent news, Glacier Bancorp reported its first-quarter 2025 earnings, revealing a diluted earnings per share (EPS) of $0.48, slightly above analysts’ expectations of $0.47. Despite this earnings beat, the company’s revenue fell short of projections, coming in at $222.6 million compared to the forecasted $227.2 million. The company announced a quarterly dividend of $0.33 per share, marking its 161st consecutive dividend payment. Glacier Bancorp also highlighted a significant improvement in its net interest margin, which exceeded 3% for the first time in two years. The company is preparing for the integration of Bank of Idaho, expected to close by the end of April, which is anticipated to add $9 to $10 million in quarterly expenses. Analysts from D.A. Davidson and Piper Sandler have engaged with Glacier Bancorp’s management regarding future financial strategies, with an emphasis on margin expansion and cost control. Additionally, the firm maintains a positive outlook on its credit quality, stating no material credit deterioration is expected in 2025. The company continues to explore potential mergers and acquisitions, particularly in the Southwest and Mountain West regions, to expand its market presence.
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