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Article: Pacific Gunning for $5B and Regional Status.(Pacific Northwest Bancorp)
- Article from:
- American Banker
- Article date:
- December 6, 2002
- Author:
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Consolidation has left the Pacific Northwest without a true regional commercial bank, but one Seattle company aims to fill that void.
Pacific Northwest Bancorp, the holding company for Pacific Northwest Bank, plans to grow into a regional player by buying smaller community banks. The $3.2 billion-asset company, whose balance sheet is relatively free of problem loans, took a big step toward that goal last month when it bought $385 million-asset Bank of the Northwest in Portland, Ore.
Patrick M. Fahey, Pacific Northwest's president and chief executive officer, said that deal was just the start, and he is not coy about his intention to buy more Oregon ...