BAWAG Group AG (WBAG:BG) signed an agreement to acquire Peak Bancorp Inc. (OTCPK:IDFB) for $64.4 million on February 1, 2022. The transaction represents a diluted per share price of $12.05. BAWAG Group will work with the current leadership team of Idaho First Bank, subsidiary of Peak Bancorp, to continue growing its community banking focused business in Idaho and adjacent market.

The transaction is subject to regulatory approval and the approval of the shareholders of Peak Bancorp. The transaction was approved by the Board of Directors of Peak Bancorp. Ben Barnhill, Brennan Ryan, John Willis and Ann Murray of Nelson Mullins Riley & Scarborough LLP acted as legal advisors to Peak.

Matthew Taratus,Joseph Gulash,Stephen Gunlock of Keefe, Bruyette & Woods, Inc. acted as Financial Advisor to Peak Bancorp Inc.