M&A Deal Summary

Heritage Financial Acquires Puget Sound Bancorp

On July 26, 2017, Heritage Financial acquired financial services company Puget Sound Bancorp for 126M USD

Acquisition Highlights
  • This is Heritage Financial’s 7th transaction in the Financial Services sector.
  • This is Heritage Financial’s 2nd largest (disclosed) transaction.
  • This is Heritage Financial’s 7th transaction in the United States.
  • This is Heritage Financial’s 6th transaction in Washington.

M&A Deal Summary
Date 2017-07-26
Target Puget Sound Bancorp
Sector Financial Services
Buyer(s) Heritage Financial
Deal Type Add-on Acquisition
Deal Value 126M USD

Target

Puget Sound Bancorp

Bellevue, Washington, United States
Puget Sound Bancorp, Inc. is a commercial bank specialized needs of small- and medium-sized businesses, select commercial real estate projects, professional service providers and high net worth individuals. Puget Sound Bancorp was founded in 2005 and is based in Bellevue, Washington.

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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 7 of 8
Sector (Financial Services) 7 of 8
Type (Add-on Acquisition) 7 of 8
State (Washington) 6 of 6
Country (United States) 7 of 8
Year (2017) 1 of 1
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-01 Washington Banking

Oak Harbor, Washington, United States

Washington Banking Company is a provider of commercial banking services and company operates as the bank holding company for Whidbey Island Bank.

Buy $265M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-08 Premier Community Bank

Hillsboro, Oregon, United States

Premier Community Bank is a provider of full range of banking, financial products and services for business and individuals. Premier Community Bank was founded in 1999 and is based in Hillsboro, Oregon.

Buy $89M
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