Banner Corp Clears Final Regulatory Hurdle, Sets Sept 1 Close for Pacific Financial Merger
BANR sits 29% above its 52-week low of $57.05.
Summary
Banner Corporation received the Federal Reserve's non-objection to its waiver request, completing all regulatory approvals for its acquisition of Pacific Financial. The companies now expect to close the merger on September 1, 2026, subject to customary conditions. This follows Pacific Financial shareholder approval on August 12 and state/FDIC approvals announced August 13. The deal adds $1.26 billion in assets and 18 branches in Washington and Oregon, expanding Banner's footprint in the Pacific Northwest. With the final regulatory hurdle cleared, the transaction is now on a firm path to completion.
At the time of this announcement, BANR was trading at $73.65 on NASDAQ in the Finance sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $57.05 to $74.84. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.