CEO Advisory Group Facilitates Strategic Acquisition

Frontier Credit Union to Acquire First Citizens Bank of Butte

CEO Advisory Group is pleased to announce our role as financial advisor to Frontier Credit Union in its strategic acquisition of First Citizens Bank of Butte, a transaction that marks Frontier’s expansion into Montana.

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

“This transaction brings tremendous opportunities for our customers and employees,” says First Citizen’s Bank of Butte CEO, Casey Reilly. “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.”

This acquisition represents the continuing trend of credit unions leveraging bank acquisitions as a strategic growth vehicle. As detailed in our recent white paper, “What Credit Unions Need to Know About Bank Acquisitions,” this type of transaction offers multiple advantages:

• Accelerated market entry: Rather than building branches from scratch in a new market, Frontier gains immediate presence in Montana.
• Expanded product offerings: First Citizens’ customers will benefit from access to Frontier’s comprehensive suite of financial products and services.
• Talent acquisition: The transaction brings valuable banking expertise into Frontier’s organization.
• Community commitment: Both organizations share a strong focus on community service, ensuring continuity for Butte residents.

The acquisition aligns with trends CEO Advisory Group is seeing across the industry. According to our analysis based on S&P Global Market Intelligence data, credit unions completed 21 bank acquisitions in 2024, representing 17% of all bank acquisitions. We expect this trend to continue as credit unions with strong balance sheets seek growth opportunities beyond traditional merger pathways.

Our team worked closely with Frontier Credit Union throughout the acquisition process, helping navigate the complexities of this transaction. We partnered with McQueen Financial Advisors and Luse Gorman, PC to provide comprehensive advisory services.

The transaction is pending regulatory approval and is expected to close in Q3 2025.

For more information about how CEO Advisory Group can assist your credit union with merger and acquisition strategy, please contact us at glennc@ceoadvisory.com or visit ceoadvisory.com.