Banner Corporation has closed its acquisition of Pacific Financial Corporation for approximately $177 million. Under the merger terms, Pacific Financial shareholders received 0.2633 Banner common shares for each Pacific Financial common share, implying a value of $17.44 per share. Pacific Financial, which reported total assets of $1.26 billion as of June 30, 2026, and operated 15 Bank of the Pacific branches, will see its operations move under the Banner name with systems integration planned for November.