Sunday, April 21, 2019

STCU to Acquire Branch Customers of Banner Bank

Spokane Teachers Credit Union (STCU), headquartered in Liberty Lake, Washington, is acquiring the Bonner County (ID) customers of Banner Bank (Walla Walla, WA).

According to the most recent summary of deposit data, Banner Bank had one branch in Bonner County at Sandpoint with $20.14 million in deposits.

The deal is pending regulatory approval and is expected to close in August.

All employees of the Banner Bank branch in Sandpoint will be offered employment with STCU.

Price of the deal was not disclosed.

This is not the first deal by STCU. In 2003, the credit union acquired a branch and customers of Wheatland Bank.

Read the press release.

Read intergency bank merger act application.
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