Reno-based Heritage Bank of Nevada to merge with Glacier Bancorp
RENO, Nev. — Heritage Bancorp, the Reno-based holding company for Heritage Bank of Nevada, has entered into an agreement to join the Glacier Bancorp family of banks, officials announced last week.
Pending board and regulatory approval, Heritage will officially be under the Glacier Bancorp umbrella in the third quarter of 2019, according to an April 3 news release.
After transaction close, Heritage will continue to operate as a community bank under the same management team, and will be known as Heritage Bank of Nevada, division of Glacier Bank.
In a statement, Stan Wilmoth, Heritage Bank’s President and CEO, says of the merger: “Heritage Bank is a highly successful and profitable bank and has enjoyed growing and serving this community for nearly a quarter of a century. As we grow, we continue looking for additional opportunities for the bank. We want to provide additional deposit and loan products to our customers and enhance our lending abilities. We have determined that a banking partner is the optimal solution for our strategic needs and for further shareholder value.”
All branch offices of Heritage Bank of Nevada will remain open, according to the April 3 news release. Customers can contact a banking representative from any branch to address questions regarding this announcement.
Glacier Bancorp, Inc. is the parent company for Glacier Bank, Kalispell and its bank divisions: First Security Bank of Missoula; Valley Bank of Helena; First Security Bank, Bozeman; Western Security Bank, Billings; and First Bank of Montana, Lewistown; all operating in Montana; as well as Mountain West Bank, Coeur d’Alene, operating in Idaho, Utah and Washington; First Bank, Powell, operating in Wyoming and Utah; Citizens Community Bank, Pocatello, operating in Idaho; Bank of the San Juans, Durango, operating in Colorado, and First State Bank, Wheatland, operating in Wyoming; North Cascades Bank, Chelan, operating in Washington; and The Foothills Bank, Yuma, operating in Arizona.
For more information, visit Glacier’s website at http://www.glacierbancorp.com.
The news comes on the heels of a luxury home report from Nevada State Bank that showed in 2019, Northern Nevada’s high-value real estate market accounted for 418 home sales in 2019, an increase of 4.8 percent over 2018. The average luxury home price was over $1.8 million in 2019.