Lake Oswego's West Coast Bancorp is merging with Tacoma's Columbia Banking System in a $506 million deal.
The two banking companies announced the merger Wednesday morning. The combined company will have about $7.2 billion in assets with more than 150 branches in Washington and Oregon.
“We think the transaction will provide outstanding benefits to our customers, communities, shareholders and other constituencies, along with enhancing our proven approach to community banking,” said Robert D. Sznewajs, West Coast Bancorp president and chief executive officer.
Read more at The Portland Tribune.