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Bank Of Idaho To Purchase Five Branches From Homestreet Bank, Expand Service Into Eastern Washington

May 11, 2022•about 3 years ago

Acquiring Company

Bank of Idaho Holding

Acquired Company

Five Branches

Financial ServicesOtherMobileSoftware

Description

Bank of Idaho Holding Co. (OTCQX: BOID) (“BOID”), the holding company for Bank of Idaho, together with HomeStreet, Inc. (Nasdaq: HMST) (“HomeStreet”), the parent company of HomeStreet Bank, today announced that HomeStreet Bank and Bank of Idaho have executed a definitive agreement under which Bank of Idaho will acquire from HomeStreet Bank an Eastern Washington branch network, including the branches’ lending business and employees.

Company Information

Company

Bank of Idaho Holding

About

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.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed