AmericanWest to merge with Banner CorporationPosted: Updated:
AmericanWest Bank and Banner Corporation announced November 5th that they will be merging under the Banner Bank brand. The company, once combined, will have $9.7 billion in assets, $6.8 billion in loans, $7.9 billion in deposits and 190 branches.
Mark J. Grescovich will serve as President and Chief Executive Officer. In a statement released in the announcement of the merger, Grescovich wrote, “This strategic combination is an exciting step forward for both Banner and AmericanWest. Together, we will have the opportunity to deploy our super community bank model throughout a strengthened presence in Washington, Oregon and Idaho and into attractive growth markets in California and Utah. In addition to being a good geographic fit, the combination is anticipated to result in considerable operating synergies. We expect this merger to provide significant benefits to our expanded group of clients, communities, shareholders, and employees.”
AmericanWest Bank is based in Spokane. They currently have branches in California, Washington, Idaho, Oregon, and Utah. Banner Corporation operates banks in Washington, Idaho, and Oregon.
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