The merger is now closed, removing deal uncertainty. Focus shifts to integration execution and cost savings realization, with systems conversion planned for November. Monitor upcoming quarterly results for accretion/dilution metrics and credit quality trends in the acquired portfolio.
Price Chart
Executive Summary
Banner Corporation completed its acquisition of Pacific Financial Corporation, effective September 1, 2026. Banner issued ~2.65 million shares (7% of the combined company) to acquire Pacific Financial's $1.26 billion in assets, expanding its footprint in Washington and Oregon. The deal is a strategic bolt-on that increases Banner's scale to ~$18 billion in assets, but the stock-for-stock consideration creates modest dilution for existing shareholders.
Key Facts
- Banner completed the acquisition of Pacific Financial Corporation effective September 1, 2026.
- Each Pacific Financial share was converted into 0.2633 shares of Banner common stock.
- Banner issued approximately 2,654,563 shares in the merger.
- Former Pacific Financial shareholders own approximately 7% of the combined company.
- Pacific Financial had total assets of $1.26 billion as of June 30, 2026.
- Banner's pro forma assets are approximately $18 billion.
- Systems integration is planned for November 2026.
- Denise Portmann, former Bank of the Pacific CEO, became an executive vice president of Banner Bank.
Financial Impact
Banner issued ~2.65 million shares (7% dilution) to acquire $1.26 billion in assets, increasing total assets to ~$18 billion.
Risk Factors
- Integration may be more difficult, time-consuming, or costly than expected.
- Anticipated benefits of the merger may not be realized within the expected time frame.
- Client and employee relationships may be disrupted, and key relationships may be difficult to retain.
- Dilution from the issuance of Banner common stock could negatively impact earnings per share.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000946673-26-000184 |
| Document: banrclosingpressrelease9-1.htm | 0000946673-26-000184 |
| Document: 0000946673-26-000184-index-headers.html | 0000946673-26-000184 |
| Document: 0000946673-26-000184-index.html | 0000946673-26-000184 |
| Document: 0000946673-26-000184.txt | 0000946673-26-000184 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 1, 2026 4w ago | 8-K | $68.58 $67.00 | ▼ −2.30% | ▼ −2.62% | $67.88 (−1.02%) |
Jul 20, 2026 10w ago | 425 | $70.74 $72.73 | ▲ +2.81% | ▲ +0.25% | $67.88 (−4.04%) |
Jun 17, 2026 15w ago | EFFECT | $64.76 $72.43 | ▲ +11.84% | ▲ +10.53% | $67.88 (+4.82%) |
Jun 15, 2026 15w ago | S-4/A | $66.12 $69.05 | ▲ +4.43% | ▲ +4.23% | $67.88 (+2.66%) |
Jun 3, 2026 17w ago | S-4 | $64.61 $67.17 | ▲ +3.96% | ▲ +5.33% | $67.88 (+5.06%) |
Apr 22, 2026 23w ago | 8-K | $67.22 $64.65 | ▼ −3.82% | ▼ −8.45% | $67.88 (+0.99%) |
US Market Status
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