Great Western Bancorp Inc

NYSE:GWB   3:59:59 PM EDT
34.78
+0.34 (+0.99%)
Mergers / Acquisitions

First Interstate Bancsystem, Inc. And Great Western Bancorp, Inc. To Join Forces

Published: 09/16/2021 11:43 GMT
Great Western Bancorp Inc (GWB) - First Interstate Bancsystem, Inc. and Great Western Bancorp, Inc. to Join Forces.
First Interstate Bancsystem - Co, Great Western Bancorp Entered Into Definitive Agreement Under Which Companies Will Combine in All‐stock Transaction.
First Interstate - Under Terms of Agreement, Gwb Shareholders Will Receive .
8425 Shares of Fibk Class A Common Stock for Each Gwb Share They Own.
First Interstate Bancsystem Inc - Following Completion of Transaction, Gwb Shareholders Will Collectively Own 43% of Combined Company.
First Interstate - Under Terms of Agreement, Gwb Will Merge Into Fibk and Combined Holding Company and Bank Will Operate Under First Interstate Name.
First Interstate Bancsystem Inc - Conversion of Gwb Branches to Fibk Branches is Expected to Take Place During Second Calendar Quarter of 2022.
First Interstate Bancsystem Inc - Implied Total Transaction Value Based on Closing Prices on September 15, 2021 is About $2.0 Billion.
First Interstate Bancsystem Inc - Upon Close of Transaction, Five Directors From Gwb Will Join Fibk Board of Directors.
First Interstate- Scott Family Will Remain Significant Shareholders in Fibk, Family Members Will Continue to Serve in Board Positions Post-transaction.
First Interstate Bancsystem Inc - As Part This Transaction, Fibk Has Agreed to Gift Over $20 Million to First Interstate Bancsystem Foundation.