BOISE, Idaho--(BUSINESS WIRE)--Western Capital Bank and Northwest Bank have finalized their merger, according to bank officials. The new bank will be known as Northwest Bank and will serve the business community across the Pacific Northwest from its branches in the Portland, Ore. metropolitan area and Boise, Idaho.
The bank received necessary regulatory approvals on the merger last month and most recently, shareholder approval, with over 99% of voting shares in favor of the merger.
“The new Northwest Bank has a strong balance sheet and, more importantly, a strong commitment to serving our customers,” said Rob Perez, president of the bank’s Idaho operations.
The new bank will have one of the highest capital ratios, a crucial measure of financial health, of any bank in the Northwest. In fact, Western Capital Bank was one of only five banks in Oregon, Washington and Idaho to be named among the nation’s safest in a recent MSN Money Investing Answers study.
The merger brings together two banks that operate with a community-centered business banking approach.
“Our goal is to be the most customer-focused bank in the Northwest,” said Karen Lantz, President of the bank’s Oregon operations. “To accomplish this, we’ve brought together a team of proven, experienced bankers and given them the necessary resources to help our customers grow and thrive.”
For the bank’s business and professional clients, the merger translates into more opportunities as the Pacific Northwest prepares for what many, including Northwest Bank chairman Jeff Gow, predict is the region’s coming growth cycle.
“Portland and Boise are dynamic markets poised for growth,” Gow said. “Northwest Bank is ready to be part of that growth by providing access to capital and expertise when our customers need it.”