Mountain West Bank is planning a major expansion in Idaho, including developing three branches in the Treasure Valley and a branch in Coeur dAlene.
The aggressive expansion strategy is being launched because of strong economic growth in those areas, says Mountain Wests President and CEO Jon Hippler.
Treasure Valley and Kootenai County are experiencing dynamic growth, he says. Those markets have kept up well with our expectations.
In Coeur dAlene, the bank is designing a branch at the northwest corner of Ramsey Road and Kathleen Avenue, Hippler says. That branch will have roughly 4,200 square feet of floor space and will be staffed by about nine employees.
We hope to break ground this summer and be online in 2006 in that branch, he says.
The bank also has agreed to buy the Bonners Ferry, Idaho, branch of Salt Lake City-based Zions First National Bank. That transaction is expected to be completed later this month, Hippler says.
Also in North Idaho, the bank is remodeling its Hayden branch, at 305 W. Prairie Avenue, near U.S. 95, Hippler says. He says the structure is being expanded slightly to accommodate increased demand. Work on that project is expected to be completed next month.
In Southern Idaho, Mountain West Bank is remodeling a 3,000-square-foot building in Nampa for a branch there and also plans to build a branch in Meridian this fall, Hippler says. In addition, the bank has bought property in Eagle, Idaho, just north of Boise, and is designing a branch that it likely will build there and open in 2006.
The newly constructed branches will cost roughly $4 million and the remodeled branches will be about $1 million, and each will have between eight and 10 employees, Hippler says.
Mountain West currently operates 16 branches.
Its a Coeur dAlene-based subsidiary of Glacier Bancorp., of Kalispell, Mont., which is a publicly traded bank-holding company with assets of $2.1 billion.
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