Layoffs and Branch Closures Could Be Coming for Mountain West - News, Sports and Weather

Layoffs and Branch Closures Could Be On the Way for Mountain West Bank

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Montana -

It has just been announced that First Interstate Bank's potential purchase of Mountain West Bank, could result in some closures and layoffs for the company.

On Tuesday, First Interstate Banksystem Inc. announced that this purchase could lead to the closure of half of Mountain West's Branches. Because this means layoffs are on the way, they plan to give out a severance package and assistance in finding new employment.

With this acquisition, First Interstate's assets will grow to $8.2 billion. But in order for this to go through, shareholders of Mountain West Financial Corporation need to approve it. Bank executives believe regulatory approval will come by July. If this is the case, the brand change over will be complete by the end of the year.