1
EXHIBIT 99.1


GLACIER BANCORP, INC. COMPLETES MERGER WITH VALLEY BANK OF HELENA

KALISPELL, Mont., Sept. 1 /PRNewswire/ -- Effective August 31, 1998, Glacier
Bancorp, Inc. (Nasdaq: GBCI) (Glacier) completed its pending merger with HUB
Financial Corporation, parent company of Valley Bank of Helena, Montana. The
shareholders of HUB, minority shareholders of Valley Bank, and Glacier, at
special shareholder meetings held August 21, and August 24, 1998, overwhelmingly
approved the merger. All necessary regulatory approvals have been obtained.

            HUB Financial Corporation, and minority shareholders of Valley Bank,
will be entitled to receive 620,000 new shares of common stock valued at
approximately $16.3 million. The total number of Glacier shares outstanding will
increase to approximately 7.6 million.

            Glacier President and CEO, Michael Blodnick, and Valley Bank
President, Fred Flanders, jointly announced that, "Expansion in the Helena
market further strengthens Glacier's strong Western Montana franchise and is
intended to enhance long-term shareholder value and promote opportunities to
deliver expanded financial services to a broader customer base. Both companies
command a strong presence in the growing Western Montana markets; focus on
providing excellent customer service; and will retain local management and
decision making."

            According to Blodnick, "Valley Bank will continue to operate under
its existing name, with a local board of directors, management, and decision
making. Valley Bank has been a high performing bank, attesting to the strong
bank management."

            Fred Flanders, President of Valley Bank, will become a member of the
Glacier board of directors.

            Combined assets of the two organizations approach $700 million, with
approximately $70 million in shareholder's equity, and market capitalization of
nearly $200 million.

            Headquartered in Kalispell, Montana, Glacier Bancorp, Inc. conducts
business from Glacier Bank (thirteen banking offices), First Security Bank of
Missoula (three banking offices), Glacier Bank of Whitefish, Glacier Bank of
Eureka, and now Valley Bank of Helena, all located in Montana.

            Glacier Bancorp, Inc. stock is listed on the Nasdaq National Market
System and is traded under the symbol of GBCI.