Banner Corporation and Pacific Financial Corporation Set Closing Date for Merger

August 18, 2026 - 02:24

WALLA WALLA, Wash. and ABERDEEN, Wash., August 17, 2026 - Banner Corporation, the parent company of Banner Bank, and Pacific Financial Corporation, the parent company of Bank of the Pacific, have jointly announced a key update regarding their planned merger. The two companies confirmed the official closing date for the transaction, which was first announced back in late April.

The merger will see Pacific Financial fold into Banner under the terms of the previously signed Agreement and Plan of Merger. While the specific date was not disclosed in the opening line of the announcement, the companies indicated that all necessary regulatory approvals have been received and that the remaining conditions for closing have been satisfied.

This move brings together two well-established financial institutions in the Pacific Northwest. Banner Bank operates a wide network of branches across several western states, while Bank of the Pacific has a strong presence along the Washington and Oregon coasts. The combined organization is expected to offer an expanded range of services and greater banking convenience for customers in both regions.

Leadership from both companies expressed confidence in the integration process, noting that teams have been working closely to ensure a smooth transition for customers and employees. Additional details about the exact closing date and post-merger operations are expected to be shared in the coming days.