Banner Corp., the parent company of Walla Walla-based Banner Bank, has cleared a hurdle in the acquisition of six Sterling Savings Bank branches.
The company announced Wednesday it has received regulatory approval for the acquisition, which includes five branches in Coos County, Ore., and another in Douglas County.
The ownership change is expected to be complete in June. The combined branches have $226 million in deposits and $95 million in loans. Collectively, they also will capture about 28 percent of the share in the Coos County market.
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