BAWAG
Group in Vienna, Austria, has agreed to buy Peak Bancorp in McCall, Idaho.
The $555
million-asset parent of Idaho First Bank said in a press release
Wednesday that BAWAG is paying $65 million.
BAWAG,
which offer financial services in Europe through various brands and delivery
channels, will work with the bank’s existing leadership team continue expanding
in Idaho and adjacent markets.
“We are
extremely excited about the opportunity to join BAWAG Group, and are proud to
be a focal point for its U.S. expansion efforts,” Todd Cooper, Peak’s president
and CEO, said in the release.
"This
partnership will allow us to continue serving our markets with a community first
focus,” Cooper added. “We will be able to leverage BAWAG’s resources, depth,
and diversification to better serve our communities and banking customers,
while also providing exceptional value to Peak … shareholders.”
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