POWELL - Federal regulators have approved the sale of First National Bank and Trust to the Montana-based Glacier Bancorp.

The deal to purchase First Company of Cody, the holding company that controls First National Bank and Trust, is expected to close by the end of the month. It marks Glacier's 11th bank acquisition since 2000.

First National Bank and Trust has offices in Powell, Cody and Lovell, Wyo. Glacier Bancorp's subsidiary banks provide services in more than 50 communities in Montana, Idaho, Utah, Colorado, Wyoming and Washington.

Glacier's assets as of June 30 totaled $5.6 billion, and First National Bank and Trust had total assets of $272 million on that date.