Frontier Credit Union in Idaho Falls, Idaho, will expand its footprint into Montana through a bank purchase.

The $698 million-asset credit union late Thursday announced an agreement to acquire $75 million-asset First Citizens Bank of Butte.

No financial details of the deal were disclosed in the press release.

The transaction is expected to close by the end of 2025 and is believed to be the first-ever acquisition of a Montana-based bank by a credit union.

The move represents more than geographic growth, Frontier said, it reflects the company’s continued commitment to delivering community-focused, member-first financial services in new and meaningful ways.

“Having grown up in Dillon, it’s a dream having this chance to share Frontier with my home state,” said Frontier CEO Dan Thurman. “We’re not just expanding our footprint — we’re extending our mission of helping people build better lives. We can’t wait to be a part of the fabric here in Butte and serve this great community.”

At $75 million of assets, First Citizens Bank of Butte is one of the smallest banks ever bought by a credit union.

In fact, only the $52 million-asset Lemont National Bank, which was acquired earlier this year by Numark Credit Union, and the $27 million-asset Nakomis Savings Bank, which was acquired by Land of Lincoln Credit Union, were smaller since 2023.

The Frontier/First Citizens deal is the seventh announced this year nationwide in which a credit union is buying a bank.

Most recently, MidFlorida Credit Union in Lakeland, Florida, announced that it agreed to acquire $924 million-asset Prime Meridian Bank in Tallahassee.

There were 22 CU-bank deals announced last year – the most ever. Prior to 2024, the most credit union-buying-bank deals struck in a year was 16 in 2022.

And this year’s pace is basically the same as 2024 as eight credit union-bank deals had been announced by this point last year.

Casey Reilly, CEO of First Citizens Bank of Butte, said the deal with Frontier brings “tremendous opportunities” for its customers and employees.

“It’s a natural fit — I’m excited our customers will be in the hands of someone who knows what makes Montana special. They know our community, share our values, and appreciate the uniqueness of Butte,” Reilly said.

Frontier has more than 50,000 members and earned roughly $73,000 in the first quarter, a 34% decrease compared to a year earlier, according to call report data from the National Credit Union Administration.

For First Citizens Bank of Butte, net income was $942,000 in 2024 compared to $564,000 in 2023 according to the FDIC.

“It’s a dream having this chance to share Frontier with my home state. We’re not just expanding our footprint — we’re extending our mission.”

 – Dan Thurman
CEO
Frontier Credit Union