American Bancor, Ltd. announces acquisition of Beartooth Financial Corporation
American Bancor, Ltd., the multibank holding company for American Bank Center and United Community Bank is proud to announce the acquisition, pending regulatory approval and other customary conditions, of Beartooth Financial Corporation, the holding company for Beartooth Bank. Headquartered in Billings, Montana, Beartooth is a locally owned community bank with approximately $46 million in assets.
The organization will be merged into American Bancor, Ltd. but will continue to operate independently as Beartooth Bank, with Sheri Nicholson as Bank President.
Nicholson says, “We look forward to moving into the future with American Bancor and we will continue to implement new strategies that will allow us to operate at the highest level of excellence for our clients.”
American will continue to be a company of advisors and work directly to contribute to the financial stability and growth of every community in which it belongs.
“This partnership will continue to provide local, community bank service to the Billings community and the surrounding areas. We are thrilled that Beartooth Bank has decided to join our team,” says President and CEO Dave Ehlis.
American looks forward to building on the success of Beartooth and providing additional resources to grow their services in areas like wealth management, trust and insurance.
American Bancor, Ltd. was advised in the transaction by Olson & Burns P.C. as legal counsel and Eide Bailly LLP as a deal advisor. Beartooth Financial Corporation was advised by D.A. Davidson & Co. as financial advisor and Stinson LLP as legal counsel.
Comprised of American Bank Center, American Insurance Center, American Trust Center and United Community Bank, American is an employeeowned financial institution that offers customers a complete financial services package. The American subsidiaries serve 16 communities with 22 locations in North Dakota and Montana. American’s commitment to its communities is illustrated through financial contributions to community incentives and fundraising events.