Banner to buy Pacific Financial, boosting presence in Northwest
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Banner Corp. has agreed to acquire Pacific Financial, enhancing its presence in the Pacific Northwest. The $177 million all-stock deal will allow Banner to expand its footprint in Washington and Oregon, where Pacific Financial operates 18 branches. Both banks share similar values and focus on community banking. The merger is pending regulatory and shareholder approval and is expected to close by the end of Q3 2023. Analysts view the acquisition as a low-risk opportunity for Banner to strengthen its market position and may lead to further acquisitions in the future.
Source: American Banker The copyright of this article belongs to the original author/organization.
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