Heritage Financial shares rise 12.69% premarket after completing acquisition of Olympic Bancorp and Kitsap Bank.

Heritage Financial Corporation surged 12.69% in premarket trading following the announcement that it completed the acquisition of Olympic Bancorp, Inc. and Kitsap Bank. The merger, effective January 31, 2026, involved issuing 7,167,600 shares of Heritage common stock to Olympic shareholders at a 45-share exchange ratio. The transaction expands Heritage’s branch network under the Kitsap Bank and Whidbey Island Bank names across Washington, Oregon, and Idaho, enhancing its market presence and asset base. The deal is expected to strengthen operational scale and customer reach, aligning with the company’s strategic growth objectives.