Banner (BANR): Completed Pacific Financial acquisition on September 1, 2026
Completed $0 Pacific Financial acquisition Sep 1, 2026 via 0.2633 share exchange; acquisition-related costs $5.2M in Q3, $5.4M YTD.
What this filing says
Banner completed its acquisition of Pacific Financial Corporation, the holding company for Bank of the Pacific, on September 1, 2026, issuing 0.2633 Banner shares for each Pacific Financial share plus cash for fractional shares and cancelling in-the-money options for cash. The stated goal is to expand Banner's presence in Western Washington and Western Oregon. The filing says the deal was not significant, so the impact on past results is expected to be limited, though the purchase accounting remains preliminary.
Key figures
- Exchange ratio
- 0.2633 Banner shares per Pacific Financial share
- Acquisition-related costs, three months
- $5.2 million
- Acquisition-related costs, nine months
- $5.4 million
- Acquisition completed
- September 1, 2026
Positive for shareholders
- The company says the acquisition expands its presence in Western Washington and Western Oregon.
Negative for shareholders
- Acquisition-related costs of $5.2 million for the quarter and $5.4 million for the nine months reduced reported income.
- Fair values of acquired assets and assumed liabilities remain preliminary and could change for up to one year.
Written by Quantisnow AI from this filing. Not financial advice.
Key terms
- Purchase accounting:
- The process of recording the assets and liabilities of an acquired company at their fair values on the buyer's books.
- Fractional shares:
- A portion of a share smaller than one whole share, which is paid out in cash instead of being issued.
- In-the-money options:
- Employee stock options whose exercise price is below the current share price, so they have value.
FAQ
What did Banner pay Pacific Financial shareholders?
Pacific Financial shareholders received 0.2633 shares of Banner common stock for each of their shares, plus cash in lieu of any fractional shares.
Did the acquisition have a large effect on Banner's results?
The filing says the acquisition was not significant and the pro forma impact on historical results was not significant.
Historical context for BANR
Across the 19 sessions after earlier BANR headlines, the stock closed higher 12 times and lower 7 times, with a median move of 1.1% in either direction. This shows timing only: many things move a stock in a session, and these figures do not show that any headline caused a move.
| Session | Earlier headline | BANR | SPY |
|---|---|---|---|
| Oct 22, 2026 | Banner Corporation Reports Net Income of $47.7 Million, or $1.36 Per Diluted Share, for Third Quarter 2026; Declares Quarterly Cash Dividend of $0.52 Per Share; Results Strengthened by Completion of Pacific Financial Corporation Acquisition | +3.0% | -1.2% |
| Sep 30, 2026 | Banner Corporation Announces Third Quarter 2026 Conference Call and Webcast | -0.7% | -0.2% |
| Sep 1, 2026 | Banner Corporation Completes Acquisition of Pacific Financial Corporation | -2.2% | -0.7% |
| Aug 18, 2026 | Banner Corporation and Pacific Financial Corporation Set Closing Date for Merger | -1.2% | -0.7% |
| Aug 11, 2026 | Forbes Names Banner Bank the #1 Bank in California | +1.9% | -0.3% |
| Aug 4, 2026 | Banner Corporation Announces Stock Repurchase Program | +1.8% | +1.8% |
- Market cap
- 30-day
- Sector
- Finance
- Industry
- Major Banks
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