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Idaho First Bank Announces Holding Company Reorganization and Formation of Peak Bancorp, Inc.
Idaho First BankJuly 24, 2021 GMT
MCCALL, Idaho, July 23, 2021 (GLOBE NEWSWIRE) -- Today, Idaho First Bank (the ‘Bank’) and Peak Bancorp, Inc. (the ‘Corporation’) (OTCPINK: IDFB) announced they have consummated their share exchange whereby the Corporation, an Idaho corporation created by the Bank’s Board of Directors, became the Bank’s holding company.
Shareholders who owned stock in the Bank became shareholders of the Corporation, with the Corporation owning 100% of the Bank. The Bank’s shareholders approved the share exchange during their annual meeting on April 26, 2021, and recently received approval from the Federal Reserve Bank of San Francisco.