Banner Corp., the holding company of Banner Bank , announced it will acquire Home Federal Bancorp Inc. in a pending merger agreement.
Home Federal Bancorp Inc., headquartered in Nampa, Idaho, is the holding company for Home Federal Bank, which has 24 branches in Idaho and Oregon.
Home and Banner Corp. combined will have approximately $5.2 billion in assets and will be the fourth largest Pacific Northwest-headquartered bank as ranked by assets, according to a news release.
“We are excited to have Home Federal Bank join the Banner Bank team,” said Mark Grescovich, Banner’s president and CEO, in a statement. “This combination will help us toward our goal of becoming the community bank of choice in the Pacific Northwest.”
Banner Bank operates four branches in Whatcom County, including three in Bellingham and one in Ferndale.