Washington, DC. Nixon Peabody advised Eagle Bancorp Montana, Inc. (Eagle), in its acquisition of Ruby Valley Bank in Twin Bridges, Montana.
Eagle is a bank holding company and the holding company of Opportunity Bank of Montana, which serves small businesses and consumers across 15 branches in the region. Through the acquisition, Eagle will grow its number of bank branches to include Ruby Valley’s two retail branches in addition to $78M in deposits, $55M in gross loans and $90M in assets.
As a result of the transaction, Opportunity Bank became the fifth largest bank headquartered in Montana with total assets in excess of $800 million. In addition, the synergies of the deal will see the expansion of Eagle’s agricultural lending offerings within the Ruby Valley market area. As of the deal’s closing, the acquisition was valued at $18.9M.
Nixon Peabody’s deal team was led by Public Company Transactions partner Lloyd Spencer and senior counsel Ray Gustini and included Public Company Transactions partner Sean Clancy, Real Estate partner Colette Dafoe, Energy & Environmental Group partner Jean McCreary, and Labor & Employment partners Jeffrey Gilbreth, Yelena Gray and Thomas McCord.
For further information, please see the press release: Eagle Bancorp Montana Completes Purchase of Ruby Valley Bank, Twin Bridges, Montana