A message from Kevin Riley, President and CEO
I am very excited to share that today, we agreed to acquire two premier community banks in Idaho: Idaho Independent Bank (IIBK), headquartered in Coeur d’Alene, and Community 1st Bank (CMYF), headquartered in Post Falls.
These acquisitions build upon our growing presence in existing Idaho markets, and are a great fit for us geographically, strategically, financially, and culturally. IIBK and CMYF both share an operating philosophy and a commitment to community banking similar to ours, allowing for a seamless integration of our companies.
Pending regulatory and shareholder approvals, the merger and conversion of both IIBK and CMYF are expected to occur during the second quarter of 2019.
I am excited to welcome the clients and employees of IIBK and CMYF to the First Interstate family, and look forward to the many opportunities and benefits these mergers will bring to the communities we serve!
For more information about the mergers of IIBK and CMYF with First Interstate, please read the full press release.