Idaho Trust to Acquire Trust and Wealth Management Division of Bank of Idaho
Summary
Aligning with the organization’s growth strategy and commitment to delivering custom trust and wealth management services to individuals, families, and businesses, the acquisition ensures Bank of Idaho Trust and Wealth Management clients will benefit from expanded service offerings, ensuring a seamless transition, and wider array of financial solutions. “We are honored to welcome the new team and their clients into our family and are committed to providing them with tailored solutions, enhanced resources, and the personalized service they are accustomed to.” This strategic move allows Bank of Idaho to focus on its core business of commercial and personal banking, ensuring continued excellence in serving its communities across Idaho and Washington. “Our priority has always been to provide our customers with the best possible financial solutions,” said Jeff Newgard, Chairman, President and CEO of Bank of Idaho. We deeply appreciate the trust our clients have placed in us and are committed to supporting them through this transition.” The transaction is expected to close in the first quarter of 2025. Current Bank of Idaho clients will receive detailed information about the transition process in the coming weeks.