Byline: Mark S.R. Suchecki Business writer
KeyCorp has reached a definitive agreement to add yet another to its snowbelt acquisitions, this time, the largest state-chartered bank in Idaho.
The financial services company has agreed to acquire IB&T Corp., according to Victor J. Riley Jr., president and chief executive officer of KeyCorp, and Richard K. Hemingway, chairman of the board of IB&T Corp., the Boise- based parent company of Idaho Bank & Trust Co. and First Bank of Troy.
Under the terms of the agreement announced jointly by officials of both firms Friday, IB&T shareholders will be paid about $58 million in cash.
IB&T Corp., with 31 …
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