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Banner Bank parent company buying Aberdeen holding company for Bank of the Pacific. * john stearns * 21 hrs ago. The Walla Walla parent company of Banner Bank is acquiring the Aberdeen-based holding company for Bank of the Pacific in an all-stock deal valued at about $177 million, according to an announcement last week. The deal is expected to close in the third quarter. Banner Corp. and Pacific Financial Corp., announced their merger agreement on Thursday. The combined company will have about $18 billion in assets. Bank of the Pacific is a 55-year-old Washington state-chartered commercial bank whose roots date to 1971, when Long Beach grocer Sid Snyder spearheaded the bank's formation with several other local businessmen after Snyder's frustrations attempting to get a loan from a larger bank. For years, Long Beach locals referred to Bank of the Pacific as "Sid's Bank," according to a 2013 biography of the late Snyder by Jeff Burlingame, editor in chief of South Sound Business. The headquarters later moved to Aberdeen, but a regional office and the original branch remain in Long Beach, at the corner of Pacific Avenue and Sid Snyder Drive, according to the book, "Across the Aisles: Sid Snyder's Remarkable Life in Groceries & Government." Bank of the Pacific today serves business and consumer clients through 15 branches in Grays Harbor, Pacific, Thurston, Whatcom, Skagit, Clark, and Wahkiakum counties in Washington, and three branches in Clatsop and Clackamas counties in Oregon. Bank of the Pacific also operates loan production offices in Burlington and in Salem, Oregon. Bank of the Pacific had assets of almost $1.3 billion as of March 31. Denise Portmann, president and CEO, is expected to join the Banner Bank executive team when the merger closes. In the news release announcing the deal, Portmann said, "Combining with Banner represents an exciting next chapter, creating tremendous opportunities for our employees, customers, and shareholders. Our organizations share many important values - we are both financially strong, take a relationship-based approach to banking, are deeply committed to the communities we serve, trust and empower our employees, and take great care in delivering outstanding customer service." In a separate message to customers on the bank's website, Portmann wrote, "By joining a broader bank, you will benefit from access to even more resources, expanded product and service offerings, more technology tools, higher lending limits for commercial customers, robust mortgage lending, and more locations to choose from as you travel throughout the West. When our companies combine, I plan to join the Banner executive team and you can count on many of the same friendly faces serving your financial needs - with the added benefit of more products and services, tools, and locations to choose from." Banner Bank has been serving businesses and consumers for more than 135 years in Washington, Oregon, Idaho, and California. Banner had assets of about $16.3 billion as of March 31. "Bank of the Pacific is a highly respected, financially strong community bank with exceptional core deposits, and we're pleased they selected Banner as their merger partner," Mark Grescovich, Banner president and CEO, said in last week's release. "This transaction expands our presence and density in attractive Western Washington and Western Oregon markets while offering Bank of the Pacific customers broader product offerings and technology tools, increased commercial lending limits, and an expanded branch delivery system. We look forward to Denise joining our executive team and are pleased to welcome their employees, customers and shareholders to Banner." Within a year of Bank of the Pacific's formation in 1971, banking experts called it an industry success story, according to Snyder's biography. In 1999, The Bank of the Pacific merged with The Bank of Grays Harbor, and in 2004, Bellingham-based Bank Northwest was brought into the fold. Snyder served as chairman of the bank's board for 25 years, then served as vice-chair after the 1999 merger. By 2013, there were 17 Bank of the Pacific branches serving small communities throughout the region, the biography noted. Snyder also served as secretary of state and as a state senator, including majority leader.

Banner Bank's financial health earns national Forbes recognition for 10th straight year. Banner Bank receives Forbes recognition for 10th straight year WALLA WALLA, Wash.-(BUSINESS WIRE)-For the 10th straight year, Forbes has named Banner Bank one of the 100 Best Banks in America based on the bank's financial strength, profitability and growth. For the 10th straight year, Forbes named Banner Bank one of the 100 Best Banks in America based on the bank's financial strength, profitability and growth. Share "Being recognized by Forbes year after year reflects the disciplined way we run our business and the strength of our balance sheet," said Mark Grescovich, Banner Bank President and CEO. "It reaffirms our approach to banking is on the mark - to remain a consistent, reliable source of capital and a trusted partner for the people and businesses we serve." Forbes measures the financial condition of the nation's largest banks ranking them using data provided by S&P Global Market Intelligence. Again this year, Forbes used 11 metrics measuring growth, credit quality and profitability for the 12 months ending September 30, 2025, as well as stock performance in the 12 months through January 23, 2025. The 10 equally-weighted financial metrics were: net interest margin, return on average tangible common equity, return on average assets, CET1 ratio, efficiency ratio, nonperforming assets as a percentage of total assets, reserves as a percentage of total assets, risk-based capital ratio, operating revenue growth, and net charge-offs as a percentage of total loans.

Banner Bank's financial health earns national Forbes recognition for 10th straight year. * 2 hrs ago For the 10th straight year, Forbes has named Banner Bank one of the 100 Best Banks in America based on the bank's financial strength, profitability and growth. Banner Bank receives Forbes recognition for 10th straight year "Being recognized by Forbes year after year reflects the disciplined way we run our business and the strength of our balance sheet," said Mark Grescovich, Banner Bank President and CEO. "It reaffirms our approach to banking is on the mark - to remain a consistent, reliable source of capital and a trusted partner for the people and businesses we serve." Forbes measures the financial condition of the nation's largest banks ranking them using data provided by S&P Global Market Intelligence. Again this year, Forbes used 11 metrics measuring growth, credit quality and profitability for the 12 months ending September 30, 2025, as well as stock performance in the 12 months through January 23, 2025. The 10 equally-weighted financial metrics were: net interest margin, return on average tangible common equity, return on average assets, CET1 ratio, efficiency ratio, nonperforming assets as a percentage of total assets, reserves as a percentage of total assets, risk-based capital ratio, operating revenue growth, and net charge-offs as a percentage of total loans. Media gallery