Great Western Bank to merge with First Interstate Bank

BILLINGS, Montana — First Interstate BancSystem Inc. (Nasdaq: FIBK), a Billings-based institution, is acquiring Sioux Falls-headquartered Great Western Bancorp Inc. (NYSE: GWB) in an all-stock transaction valued at about $2 billion.

The acquisition greatly expands First Interstate’s holdings in the Rocky Mountain region.

First Interstate’s closest branch to the Boulder Valley and Northern Colorado is in Cheyenne. The company operates locations throughout Wyoming, Montana, South Dakota, Washington, Oregon and Idaho.

Great Western operates 174 branches in Arizona, Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota, including throughout Northern Colorado and the Boulder Valley. Local branches are in Boulder, Broomfield, Erie,…