Skagit Bancorp, Inc. and Banner Bancorporation have reached an agreement for Skagit Bank to merge with and into Banner Bank.
July 25, 2018
Dear Current and Future clients:
Banner Corporation and Skagit Bancorp, Inc. have reached an agreement for Skagit Bank to merge with and into Banner Bank, creating a larger collective presence in northwestern Washington and throughout the west coast. The merger is possible because Skagit Bancorp Inc. has agreed to be acquired by Banner Bancorporation, subject to shareholder and regulatory approvals and other customary closing conditions.
Skagit Bank is an exceptional bank with exceptional people who consistently deliver outstanding service, work as a team, and give back to the community through hands-on involvement.
Banner and Skagit Bank share core values regarding client service, care for employees and commitment to the communities in which we operate. The operating footprint of our two banks fit together like puzzle pieces and our culture and approach to serving clients are very similar. Like Skagit Bank, Banner is headquartered in Washington and focused on long-term client relationships.
As a Banner client, you will benefit from access to even more resources, expanded product and service offerings, and additional choices of where you do your banking as you travel throughout the region and the West.
We anticipate the merger will be finalized late in the fourth quarter of 2018, subject to approval of shareholders and regulators and other customary closing conditions. Until then, it is business as usual at all Skagit Bank locations. In the coming weeks and months, you will receive more information regarding the merger, including details on specific products and services.
We look forward to welcoming the employees and clients of Skagit Bank to Banner Bank.
CEO & President