First Interstate Bank, Montana, set to buy INB

Jana Mathia, Gazette Reporter | May 03, 20180

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Montana-based First Interstate Bank has entered a definitive agreement with Inland Northwest Bank which has branches in Colfax, Oakesdale and Rosalia.

“We try to make it as less disruptive as possible,” said Kevin Riley, First Interstate CEO.

The merger is expected to conclude by the end of the year. Riley noted the INB name would not change locally until late 2018 or early 2019.

No branch closures are planned at this time. As First Interstate is a larger company with more than 120 banking offices, there will be a larger offering of products, including credit card, mortgage, indirect lending, wealth management and private banking services. The merger also expands the geographical territory for INB customers as First Interstate has offices throughout Idaho, Montana, Oregon, South Dakota, Washington and Wyoming.

“We pride ourselves on taking care of the local communities,” Riley said, adding First Interstate wants to be part of the fabric of the communities it comes into.

First Interstate was founded by a family in Wyoming in 1968. As that family remains the prominent shareholder in the company, it continues to exemplify family-values.

Once the merger is complete, INB customers will not have to switch over checks and such right away, but will be able to continue using theirs for a time.

“First Interstate Bank and INB will work closely to ensure the merger has as little impact on employees and clients as possible,” stated Sara Becker, First Interstate Bank marketing manager. “Our expectation is that the majority of INB employees will have the opportunity to continue as part of the new First Interstate Team.”