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(Continued from page 21)
• Philip 60, Wall 44
• Rosholt 51, Estelline 40
• Sunshine Bible Academy 60, Mitchell Christian 41
• Tiospa Zina Tribal 76, Great Plains Lutheran 41
• Waverly-South Shore 64, Wilmot 44
First Interstate to buy Mountain West Bank
• HELENA, Mont. (AP) -- First Interstate Bank's parent company plans to acquire Mountain West Bank in a deal that will pay Mountain West shareholders approximately $72.8 million, Billings-based First Interstate said Monday.
• First Interstate BancSystem Inc. senior vice president and marketing director Cynthia Lyle confirmed the acquisition announced on First Interstate's website.
• The deal must be approved by regulators and Mountain West shareholders. It already has been approved by both companies' boards, and First Interstate said it expects to complete the deal by midyear.
• "Bringing these two companies together gives us the opportunity to expand our statewide market in Montana and provides us with a solid presence in the Helena market," First Interstate Chairman Tom Scott said in the statement.
• Helena-based Mountain West Financial Corp. was founded in 1991, had $647 million in assets at the end of September and operates 12 branches in central and western Montana.
• Mountain West CEO Rick Hart said in the statement the merger would mean an expanded line of financial services for his customers.
• The merger would give First Interstate, which operates in Montana, Wyoming and South Dakota, approximately $8.2 billion in assets.
• The $72.8 million sales price is based on First Interstate's closing stock price Monday of $24.77 per share, which is up .04 percent from Friday.
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SD lawmakers orders hearing on development agency
CHET BROKAW, Associated Press
• PIERRE, S.D. (AP) -- South Dakota lawmakers on Monday ordered a legislative investigation of the state's economic development agency and its involvement in financing a failed beef packing plant.
• The Senate voted 33-1 to pass the resolution, which was sponsored by House and Senate leaders of both political parties. The House last week approved the measure, which tells the Legislature's Government Operations and Audit Committee (Continued on page 23)
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