Heartland Financial USA in Denver has agreed to sell nine Montana branches.
The $19.4 billion-asset Heartland said in a press release that will sell six branches to Glacier Bancorp in Kalispell, Mont., and three to Stockman Bank of Montana.
The sales include $594 million of deposits and $363 million of loans.
Heartland said it plans to reinvest the proceeds into talent, technology “and other existing markets where it has the greatest growth potential.”
The sales are expected to close late in the third quarter or early in the fourth quarter. The pricing wasn’t disclosed.
Keefe, Bryette & Woods and Otteson Shapiro advised Heartland. D.A. Davidson and Miller Nash advised Glacier.