Banner Bank expands in Oregon

Posted on February 20, 2014 

Here's a news release about Banner Bank acquiring six Sterling Bank branches. Banner has six branches in Whatcom County, including three in Bellingham:

WALLA WALLA, Wash., Feb. 19, 2014 (GLOBE NEWSWIRE) -- Banner Corporation (Nasdaq:BANR), the parent company of Banner Bank and Islanders Bank, today announced that Banner Bank has entered into an agreement for the acquisition of six branches in Oregon from Sterling Savings Bank together with approximately $226 million in deposits and $95 million in loans. Five of the six branches are located in Coos County, Oregon and the sixth branch is located in Douglas County.

"This transaction presents a unique opportunity for Banner to expand our Pacific Northwest franchise, specifically in Oregon, through an existing presence with a significant market share," said Mark Grescovich, Banner Bank President and Chief Executive Officer. "The acquired branches collectively will capture a 28% share of the Coos County market. We are pleased to have this opportunity to welcome new clients and employees to the Banner Bank family. At Banner, we strive to provide great financial services to our clients and believe our new colleagues and clients will soon come to realize that Banner is a special place to work and bank."

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