Poulsbo Banner Bank to be acquired by Liberty Bank

February 28, 2018

Tuesday, February 27, 2018

Poulsbo, WA – Liberty Bank announced today it has entered into an agreement with Banner Bank to acquire the deposits of its Poulsbo location.  The transaction is subject to regulatory approvals and customary closing conditions and is expected to close in the second quarter of 2018.

“We look forward to welcoming the employees and clients of the Poulsbo Banner Bank location to Liberty Bank and extending to them our extraordinary client service and local expertise,” stated Rick Darrow, President and CEO of Liberty Bank.  “We believe this expansion is a natural fit that increases our opportunity to build new client relationships and strengthens our community.”

The Poulsbo branch is Banner Bank’s only location in Kitsap County.  The agreement is to purchase deposits of approximately $25 million, including both personal and business accounts.  Notices will be mailed to each client with more details regarding the transaction.

About Liberty Bank: Headquartered in Poulsbo and serving clients throughout the West Sound and Puget Sound regions, Liberty Bank is a full-service community bank committed to highly personalized service and to reinvesting in the communities it serves. The bank provides loans and professional banking solutions to businesses, non-profits, and consumers. More information is available at libertybanknw.com or by calling 360-779-4567.

About Banner Bank
Banner Bank is a Washington-chartered commercial bank conducting business from 175 locations in Washington, Oregon, California and Idaho.  Banner Bank is a community bank which offers a wide variety of commercial banking services and financial products to individuals and small- and medium-sized businesses and their employees throughout the western U.S. Banner Bank is a wholly owned subsidiary of Banner Corporation, headquartered in Walla Walla, Washington with $9.8 billion in assets. Visit Banner Bank at www.bannerbank.com.

Richard C. Darrow