March 17, 2010 (FinancialWire) Glacier Bancorp, Inc. (NASDAQ: GBCI) said that it has filed a prospectus supplement with the Securities and Exchange Commission for a firm commitment underwritten public offering of $110 million of its common stock.
D.A. Davidson & Co. is the sole book-running manager in the offering. The underwriters will be given a 30-day option to purchase up to an additional 15% of the shares being offered to cover over-allotments, according to Glacier.
Glacier plans to use the net proceeds from the offering to support the continued growth of its banks and for general corporate purposes, which may include investments at the holding company level, capital allocations to its banking subsidiaries, and potential future business opportunities in its market areas, such as FDIC-assisted transactions.
Montana-based Glacier Bancorp is a regional multi-bank holding company providing commercial banking services in 60 communities in Montana, Idaho, Utah, Washington, Wyoming and Colorado.
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