This Slide: #39 of 100 |
Slide #39. Banner Corporation — Idaho Banking Company
Acquirer:
Banner Corporation (NASDAQ:BANR)
Acquiree:
Idaho Banking Company
Details:
Banner Corporation ("Banner") (Nasdaq:BANR), the holding company for Banner Bank and Islanders Bank, and Idaho Bancorp (OTCBB:IDBC), the holding company for Idaho Banking Company, today announced the signing of an agreement pursuant to which Banner will purchase all of the stock and equity interests in Idaho Banking Company and merge it with and into Banner Bank. The combined company will have approximately $4.6 billion in assets and will be the fourth largest Pacific Northwest headquartered commercial bank as ranked by assets.
Banner is a bank holding company. Co. is primarily engaged in the business of planning, directing and coordinating the business activities of its wholly-owned subsidiary, Banner Bank (the Bank). The Bank is a regional bank which provides a variety of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas. The Bank's primary business is that of banking institutions, accepting deposits and originating loans in locations surrounding its offices in Washington, Oregon, California and Idaho. The Bank is also an active participant in secondary loan markets, engaging in mortgage banking operations.
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Buy (3.17 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: BANR Stock Forecast Based on Zacks ABR data; powered by Xignite |