Banner says all regulatory approvals received for merger

Banner Corp (BANR) has announced that it has received all necessary regulatory approvals for its merger with Pacific Financial Corporation (PFLC). The Washington State Division of Banks granted approval on August 11, 2026, subject to FDIC and Federal Reserve clearance. Subsequently, the FDIC approved the merger on August 12, 2026, also pending Federal Reserve approval. Shareholders of Pacific Financial voted in favor of the merger agreement during a special meeting held on August 12–13, 2026.

With these approvals secured, the companies now anticipate the merger will close in the third quarter of 2026, contingent on remaining regulatory clearances and other customary closing conditions. The merger, which has been under regulatory review for several months, marks a significant step in the consolidation of banking services in the Pacific Northwest. Investors are now looking for further updates on the finalization of the deal and its potential impact on the combined entity’s operations and market position.