Banner Corp to acquire Pacific Financial in all-stock merger valued at 0.2633 exchange ratio

Filed May 1, 2026 · Period ending April 30, 2026 · ~1 min read

Key Changes

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  Banner entered definitive merger agreement with Pacific Financial Corp on April 30, 2026. Pacific Financial shareholders will receive 0.2633 Banner shares for each share owned in all-stock transaction expected to close Q3 2026.

  Item 1.01: Merger Agreement verify on EDGAR →
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  Deal requires two-thirds shareholder approval from Pacific Financial holders plus regulatory approvals from Federal Reserve, FDIC, and Washington State banking regulators. No burdensome regulatory conditions permitted.

  Item 1.01: Closing Conditions verify on EDGAR →
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  Bank of the Pacific will merge into Banner Bank immediately after parent merger closes, consolidating all banking operations under Banner Bank as surviving entity.

  Item 1.01: Bank Merger verify on EDGAR →