Citizens Alliance Bank has agreed to acquire Butte, Montana-based Granite Mountain Bank in a transaction that includes branches in Philipsburg and Drummond, Montana, according to a news release from Citizens Alliance Bank.
Employees and branch locations will not change.
Citizens Alliance Bank, an independent community bank with total assets in excess of $1.2 billion, is headquartered in Clara City, Minnesota. It currently has three Montana offices in Great Falls, Seeley Lake and Lincoln. It also has 10 offices in rural communities in west central Minnesota.
According to the release, the transaction is contingent upon regulatory approval from the Federal Deposit Insurance Corp., as well as regulators in Minnesota and Montana and the shareholders of Flint Creek Holding Company, which holds Granite Mountain Bank as a subsidiary.