Two Oregon banks recently completed a merger that was approved by shareholders with 99 percent of shares.
Western Capital Bank in Boise and Northwest Bank in Lake Oswego, Oregon, completed the merger that will form Northwest Bank and provide service to the communities in the Pacific Northwest, the Idaho Statesman reported.
"Portland and Boise are dynamic markets poised for growth,” said Jeff Gow, Northwest Bank chairman, to the source. “Northwest Bank is ready to be part of that growth by providing access to capital and expertise when our customers need it.”
According to Rob Perez, president of the bank's Idaho operations, the new bank has a strong balance sheet and are dedicated to serving its customers in the area.
The two companies structured the measure as an exchange between cash and stock, converting most shares of Northwest Bank into shares of Western Capital Corporation, which owns Western Capital Bank, the Statesman reported.
Centennial and Millennium Bank in Colorado also recently completed a merger that is expected to deliver costs savings and $400 million in assets.
Western Capital Bank in Boise and Northwest Bank in Lake Oswego, Oregon, completed the merger that will form Northwest Bank and provide service to the communities in the Pacific Northwest, the Idaho Statesman reported.
"Portland and Boise are dynamic markets poised for growth,” said Jeff Gow, Northwest Bank chairman, to the source. “Northwest Bank is ready to be part of that growth by providing access to capital and expertise when our customers need it.”
According to Rob Perez, president of the bank's Idaho operations, the new bank has a strong balance sheet and are dedicated to serving its customers in the area.
The two companies structured the measure as an exchange between cash and stock, converting most shares of Northwest Bank into shares of Western Capital Corporation, which owns Western Capital Bank, the Statesman reported.
Centennial and Millennium Bank in Colorado also recently completed a merger that is expected to deliver costs savings and $400 million in assets.
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