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AI brief of an SEC Form 8-K · Banner (BANR)

Banner to acquire Pacific Financial in $177 million all-stock merger

Neutral Impact 5 of 5 m&a Written later

Banner Corporation signed a merger agreement on April 30, 2026, to acquire Pacific Financial Corporation, the holding company for Bank of the Pacific, in an all-stock transaction. The companies said the combined company is expected to have about $18 billion in assets, and the deal is expected to close in the third quarter of 2026, subject to shareholder and regulatory approvals.

Key points

  • Each Pacific Financial share converts into 0.2633 Banner shares; the companies cite an implied $17.44 per share based on Banner's $66.25 close on April 29, 2026.
  • The transaction is valued at about $177 million; Pacific Financial shareholders are expected to own about 7% of the combined company.
  • Pacific Financial must pay Banner a $6.3 million termination fee in certain circumstances.
  • Closing requires approval by two-thirds of Pacific Financial shareholders and regulatory approvals, including from the Federal Reserve Board and the FDIC; the companies expect closing in the third quarter of 2026.

The filing

CompanyBanner (BANR)
Form8-K, current report
Filed with the SECApr 30, 2026, 6:02 PM ET
Accession number0000946673-26-000123

Items reported: 1.01 Material Definitive Agreement7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 30, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.