Pacific Continental has agreed to buy Century Bank for $13.4 million. Both banks are based in Eugene.
The deal is expected to close early next year, or perhaps even by the end of this year, pending shareholder and regulatory approvals, Pacific Continental Bank CEO Hal Brown said.
Brown said the acquisition fits in with Pacific Continental’s long-term plans and strategies. “We have long stated our intent to pursue acquisition opportunities that make sense strategically, financially and culturally,” he said, and the purchase of Century is a step in that direction.
Read more at The Register-Guard.