WALLA WALLA, Wash. and BURLINGTON, Wash., Oct. 16, 2018 (GLOBE NEWSWIRE) — On October 15, 2018, the shareholders of Skagit Bancorp, Inc. (“Skagit”), the holding company for Skagit Bank, approved the previously announced definitive merger agreement with Banner Corporation, (NASDAQ GSM: BANR), (“Banner”), the holding company for Banner Bank, pursuant to which Banner will acquire Skagit in an all-stock transaction, subject to the terms and conditions set forth therein. Banner previously announced that it has received all regulatory approvals required to consummate the proposed transaction. The transaction is expected to close on or about November 1, 2018 subject to customary closing conditions. Upon completion of the transaction, the combined company will have approximately $11.4 billion in assets and branches across four western states.About Banner CorporationBanner Corporation is a $10.4 billion bank holding company operating two commercial banks 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.About Skagit Bancorp, Inc.www.skagitbank.com. Forward-Looking StatementsWhen used in this press release and in other documents filed with or furnished to the Securities and Exchange Commission (the “SEC”), in press… Read full this story
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