Heritage Financial Corporation (PRNewsFoto/Heritage Financial Corporation)
Heritage Financial Corporation has received all necessary regulatory approvals to proceed with its planned merger with Olympic Bancorp, Inc. This transaction includes the integration of Kitsap Bank into Heritage Bank, marking a significant development in the banking landscape of the Puget Sound region. The merger is expected to close on or about January 31, 2026, pending customary closing conditions, including shareholder approval from both Heritage and Olympic.
In a statement, Bryan McDonald, President and CEO of Heritage, expressed satisfaction with the approval, stating, “We are pleased to have received the necessary regulatory approvals as this is an important step towards integrating a successful merger.” McDonald emphasized the benefit of combining Kitsap Bank’s relationship banking strategy with Heritage’s existing practices, suggesting that the merger will enhance service offerings and create a more robust banking platform for local communities.
Heritage Financial Corporation, based in Olympia, Washington, operates as a bank holding company for Heritage Bank, its sole wholly-owned subsidiary. Heritage Bank is a full-service commercial institution with a network of 51 branches located across Washington, Oregon, and Idaho. The bank also operates under the Whidbey Island Bank name on Whidbey Island. Heritage Financial’s stock is traded on the NASDAQ Global Select Market under the symbol HFWA.
The merger aims to leverage the strengths of both institutions, combining resources to better serve clients in the region. The integration is anticipated to enhance the competitive position of Heritage Bank within the local banking sector, ultimately benefiting customers through a wider range of services and improved access to financial resources.
As the closing date approaches, stakeholders will be keenly observing the progress of the merger and its implications for the banking community in the Puget Sound area.
For more information, interested parties can visit the official websites of Heritage Financial Corporation at www.hf-wa.com and Heritage Bank at www.heritagebanknw.com.
