First Community Bank Acquired By Opportunity
Opportunity Bank of Montana announced Oct. 1 that it has reached an agreement to acquire First Community Bank, with branches throughout Northeast Montana. At press time, it is unclear how the purchase will affect FCB branches in Culbertson, Wolf Point and elsewhere in Roosevelt County.
The transaction is Opportunity’s fourth announced acquisition of a Montana-based bank since 2017. According to a press release, the deal is its largest transaction to date.
Headquartered in Glasgow, FCB is the largest bank in Northeast Montana, with $374 million in total assets. FCB currently operates nine branches and two mortgage LPOs, including branches in Helena and Three Forks. Upon completion of the acquisition, Opportunity will have 32 retail branches in Montana.
The board of directors for both companies unanimously approved the transaction.
“Being able to partner with a strong community bank that is focused on providing great customer service and has a deep commitment to the communities where it operates, is a great opportunity for us,” said Kris Simensen, CEO of First Community Bank.
The deal is expected to close during the fourth quarter of 2021.
