INVESTOR ALERT: Levi & Korsinsky, LLP Announces Investigation of Intermountain Community Bancorp and Its Board of Directors In Connection With the Sale of the Company to Columbia Banking System, Inc. -- IMCB

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Jul 29, 2014, 11:37 ET

NEW YORK, July 29, 2014 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Intermountain Community Bancorp ("Intermountain" or "the Company") (NasdaqCM: IMCB) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Columbia Banking System, Inc. ("Columbia") (NasdaqGS: COLB).

Click here to learn more about the investigation: http://zlk.9nl.com/intermountain-community-imcb, or call: 877-363-5972. There is no cost or obligation to you.

Under the terms of the transaction, Intermountain shareholders will receive 0.6426 shares of Columbia common stock and $2.2930 in cash for each share of Intermountain stock they own, representing a value of approximately $18.22 per share based on Columbia's closing price as of July 23, 2014. The investigation concerns whether the Board of Intermountain breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Columbia is underpaying for Intermountain shares.

If you own Intermountain common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/intermountain-community-imcb.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
www.zlk.com

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SOURCE Levi & Korsinsky