As of 31 December 2011, Northwest Bank had $104m in assets and $8.8m in capital.
Upon completion of the transaction, the new bank will be named as Northwest Bank and will continue to operate from their current locations in Lake Oswego, Oregon and Boise, Idaho.
Northwest Bank chairman Kevin Kelly will join the board of Western Capital.
The transaction, which is subject to receipt of all necessary regulatory and shareholder approvals, is expected to completein the third quarter of this year.
Western Capital Bank chairman Jeff Gow said that bringing these two banks together to form a larger and stronger organization focused on two of the most dynamic metropolitan areas in the Northwest will provide their business and professional clients with greater products and services at a time when the region is entering its next growth cycle.
Northwest Bank president and CEO Karen Lantz said the merger is a great opportunity for both firms to provide their clients increased credit capacity and geographically expanded access to tailored banking products and services in two of the Northwest’s fastest growing cities.
