{"id":996179,"date":"2026-08-17T16:10:22","date_gmt":"2026-08-17T20:10:22","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/banner-corporation-and-pacific-financial-corporation-set-closing-date-for-merger\/"},"modified":"2026-08-17T16:10:22","modified_gmt":"2026-08-17T20:10:22","slug":"banner-corporation-and-pacific-financial-corporation-set-closing-date-for-merger","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/banner-corporation-and-pacific-financial-corporation-set-closing-date-for-merger\/","title":{"rendered":"Banner Corporation and Pacific Financial Corporation Set Closing Date for Merger"},"content":{"rendered":"

<\/p>\n

Banner Corporation and Pacific Financial Corporation Set Closing Date for Merger<\/span><\/b><\/p>\n

WALLA WALLA, Wash. & ABERDEEN, Wash.–(BUSINESS WIRE<\/a>)–
\nBanner Corporation (\u201cBanner\u201d) (NASDAQ: BANR), the holding company for Banner Bank, and Pacific Financial Corporation (\u201cPacific Financial\u201d) (OTCQX: PFLC), the holding company for Bank of the Pacific, today jointly announced important updates relating to the previously announced merger of Pacific Financial into Banner pursuant to that certain Agreement and Plan of Merger, dated as of April 30, 2026.<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20260817324749\/en\/<\/a><\/p>\n

\nBanner has received a letter from the Federal Reserve stating it does not object to Banner\u2019s previously requested waiver of the application requirement for the merger. All regulatory approvals required for the merger have now been received.<\/p>\n

\nBanner and Pacific Financial anticipate closing the merger on September 1, 2026, subject to the satisfaction of the remaining customary closing conditions.<\/p>\n

About Banner<\/span><\/b><\/p>\n

\nBanner Corporation is a $16.59 billion bank holding company operating a commercial bank in four Western states through a network of branches offering a full range of deposit services and business, commercial real estate, construction, residential, agricultural and consumer loans. Visit Banner Bank on the Web at www.bannerbank.com<\/a>. Banner\u2019s investor relations website is https:\/\/investor.bannerbank.com<\/a>. The contents of Banner\u2019s websites are not deemed to be incorporated by reference into this press release.<\/p>\n

About Pacific Financial<\/span><\/b><\/p>\n

\nPacific Financial Corporation of Aberdeen, Washington, is the bank holding company for Bank of the Pacific, a state chartered and federally insured commercial bank. Bank of the Pacific offers banking products and services to small-to-medium sized businesses and professionals in western Washington and Oregon. At June 30, 2026, the Company had total assets of $1.26 billion and operated fifteen branches in the communities of Grays Harbor, Pacific, Thurston, Whatcom, Skagit, Clark and Wahkiakum counties in the State of Washington, and three branches in the communities of Clatsop and Clackamas counties in Oregon. The Company also operated loan production offices in the communities of Burlington, Washington and Salem, Oregon. Visit Bank of the Pacific\u2019s website at www.bankofthepacific.com<\/a>. Pacific Financial Corporation\u2019s investor relations website is https:\/\/ir.bankofthepacific.com<\/a>. The contents of Pacific Financial\u2019s websites are not deemed to be incorporated by reference into this press release.<\/p>\n

Cautionary Note Regarding Forward-Looking Statements<\/span><\/b><\/p>\n

\nAs previously reported, Banner Corporation (\u201cBanner\u201d) and Pacific Financial Corporation (\u201cPacific Financial\u201d) entered into that certain Agreement and Plan of Merger, dated as of April 30, 2026 (the \u201cMerger Agreement\u201d), pursuant to which Pacific Financial will merge with and into Banner (the \u201cMerger\u201d). This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including all statements in this report that are not historical facts or that relate to future plans or events. These forward-looking statements include, but are not limited to, statements relating to the expected timing of the Merger. Such statements are based on information available at the time of communication and are based on current beliefs and expectations of Banner\u2019s and Pacific Financial\u2019s management and are subject to risks and uncertainties, many of which are beyond Banner\u2019s or Pacific Financial\u2019s control, which could cause actual events or results to differ materially from those projected, anticipated or implied. This risks and uncertainties include, but are not limited to, the risk that the parties may not meet expectations regarding the timing of the proposed Merger, there may be challenges in satisfying the other conditions to completion of the Merger, or the Merger may fail to close for any other reason. Any forward-looking statements are based on information at the time the statement is made. Neither Banner nor Pacific Financial undertakes any obligation to update or revise any forward-looking statement, except as required by law.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260817324749\/en\/<\/a><\/span><\/p>\n

\nRobert G. Butterfield, CFO of Banner, (509) 527-3636<\/p>\n

\nCarla Tucker, EVP AND CFO of Pacific Financial (360) 533-8873<\/p>\n

KEYWORDS:<\/b> Washington United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Banking Professional Services Finance<\/p>\n

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Banner Corporation and Pacific Financial Corporation Set Closing Date for Merger WALLA WALLA, Wash. & ABERDEEN, Wash.–(BUSINESS WIRE)– Banner Corporation (\u201cBanner\u201d) (NASDAQ: BANR), the holding company for Banner Bank, and Pacific Financial Corporation (\u201cPacific Financial\u201d) (OTCQX: PFLC), the holding company for Bank of the Pacific, today jointly announced important updates relating to the previously announced merger of Pacific Financial into Banner pursuant to that certain Agreement and Plan of Merger, dated as of April 30, 2026. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20260817324749\/en\/ Banner has received a letter from the Federal Reserve stating it does not object to Banner\u2019s previously requested waiver of the application requirement for the merger. All regulatory approvals required for the merger … <\/p>\n

Continue reading “Banner Corporation and Pacific Financial Corporation Set Closing Date for Merger”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-996179","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nBanner Corporation and Pacific Financial Corporation Set Closing Date for Merger - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/banner-corporation-and-pacific-financial-corporation-set-closing-date-for-merger\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banner Corporation and Pacific Financial Corporation Set Closing Date for Merger - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Banner Corporation and Pacific Financial Corporation Set Closing Date for Merger WALLA WALLA, Wash. & ABERDEEN, Wash.–(BUSINESS WIRE)– Banner Corporation (\u201cBanner\u201d) (NASDAQ: BANR), the holding company for Banner Bank, and Pacific Financial Corporation (\u201cPacific Financial\u201d) (OTCQX: PFLC), the holding company for Bank of the Pacific, today jointly announced important updates relating to the previously announced merger of Pacific Financial into Banner pursuant to that certain Agreement and Plan of Merger, dated as of April 30, 2026. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20260817324749\/en\/ Banner has received a letter from the Federal Reserve stating it does not object to Banner\u2019s previously requested waiver of the application requirement for the merger. 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