M&A Deal Summary

Heritage Financial Acquires Northwest Commercial Bank

On January 9, 2013, Heritage Financial acquired financial services company Northwest Commercial Bank for 5M USD

Acquisition Highlights
  • This is Heritage Financial’s 4th transaction in the Financial Services sector.
  • This is Heritage Financial’s 8th largest (disclosed) transaction.
  • This is Heritage Financial’s 4th transaction in the United States.
  • This is Heritage Financial’s 3rd transaction in Washington.

M&A Deal Summary

Date 2013-01-09
Target Northwest Commercial Bank
Sector Financial Services
Buyer(s) Heritage Financial
Deal Type Add-on Acquisition
Deal Value 5M USD
Advisor(s) McAdams Wright Ragen, Inc. (Financial)
Graham & Dunn PC (Legal)

Target

Northwest Commercial Bank

Lakewood, Washington, United States
Northwest Commercial Bank provides banking products and services such as certificates of deposits, individual retirement accounts, and money market solutions.

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Buyer(S) 1

Buyer

Heritage Financial

Olympia, Washington, United States

Category Company
Founded 1927
Sector Financial Services
Employees748
Revenue 168M USD (2015)
DESCRIPTION

Heritage Financial Corporation is a provider of various financial services to small businesses and general public and operates as the bank holding company for Heritage Bank. Heritage Financial Group, Inc. is the holding company for HeritageBank of the South, a community-oriented bank serving primarily Georgia, Florida and Alabama through 36 banking locations, 20 mortgage offices, and 5 investment offices.


DEAL STATS #
Overall 4 of 9
Sector: Financial Services M&A 4 of 9
Type: Add-on Acquisition M&A Deals 4 of 9
State: Washington M&A 3 of 7
Country: United States M&A 4 of 9
Year: 2013 M&A 1 of 2
Size (of disclosed) 8 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-01 Western Washington Bancorp.

Federal Way, Washington, United States

Western Washington Bancorp is a provider of various banking services and products for commercials and individuals.

Buy $9M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-15 Valley Community Bancshares

Puyallup, Washington, United States

Valley Community Bancshares is a provider of commercial banking services to small and medium-sized businesses, professionals, and other individuals.

Buy $44M