TACOMA – Tacoma’s Columbia Banking System and Eugene, Ore.’s Pacific Continental Corp. announced Monday that the two had agreed to merge in a transaction valued at around $644.1 million.
The combined company will have approximately $12 billion in assets with more than 150 branches throughout Washington, Oregon and Idaho, according to a joint news release. Pacific has one location in Clark County; Columbia Bank has three.
The deal is set to close in midyear pending shareholder and regulatory approval. After the deal closes, Pacific Continental’s branches will switch to the Columbia name.
