Washington's FS Bancorp to enter Portland with deal
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FS Bancorp has announced its first whole-bank acquisition since 2019, acquiring Pacific West Bank for $34.6 million, marking its entry into the Portland market. The deal, expected to close in Q3, will enhance FS's presence in the Pacific Northwest, combining assets to reach $3.6 billion. FS anticipates a 7.4% growth in earnings-per-share by 2027 and significant cost savings. The acquisition reflects a trend of increased bank mergers due to favorable regulatory conditions, with FS aiming to leverage Pacific West's customer-focused approach and expand its service offerings.
Source: American Banker The copyright of this article belongs to the original author/organization.
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