BOISE, ID, MAY. 11, 2022 – ACCESSWIRE
Bank of Idaho Holding Co. (OTCQX:BOID) (the “Company”), the holding company for Bank of Idaho, today announced it has entered into a purchase agreement with Seattle-based HomeStreet, Inc. (HMST) to acquire an Eastern Washington branch network.
The Company will extend its branch footprint by acquiring five branches in Spokane, Kennewick, Dayton, Yakima, and Sunnyside.
“Bank of Idaho's roots serving communities across the western landscape make it a perfect fit in Eastern Washington,” Bank of Idaho President and CEO Jeff Newgard said. “Our shared values – and way of life – will be a comfort to all our customers, who will experience great service, enhanced opportunity and dedication to community Bank of Idaho is known for in our new, united footprint.”
It is anticipated that the transaction will close on or before August 1, 2022 subject to customary regulatory application processes and approvals. Bank of Idaho and HomeStreet are committed to working closely together to assist clients during the transition and meet all client customer service needs through the completion of the transaction.
MJC Partners, LLC, served as the exclusive placement agent for the offering and the exclusive financial advisor to BOID. Nelson Mullin served as legal counsel to the placement agent. Stinson LLP served as counsel to Bank of Idaho Holding Co.
About Bank of Idaho Holding Co.
Bank of Idaho has been a financial fixture in the eastern Idaho community since 1985, when the original location opened in downtown Idaho Falls on the corner of Capital and B Street. Later expanding to include 10 full-service locations, and 4 mortgage offices across the state. Stock for the Bank of Idaho Holding Company opened to public trading on the OTC-QX market under the symbol BOID October 2019. With community growth always a first priority, Bank of Idaho focuses on small businesses and is a leader in SBA lending. For more information, please visit https://www.bankofidaho.com.
About MJC Partners, LLC
MJC Partners, LLC is a leading Los Angeles-based boutique investment banking and advisory firm providing a full range of strategic, transactional and valuation-related services to clients across multiple industry groups with a focus on financial services. For more information about MJC Partners, visit www.mjcpartners.com.