Bank of the Pacific name disappears after 55 years: Long Beach-founded institution becomes part of Banner Bank in $177 million acquisition

LONG BEACH — A familiar name in Pacific County banking is disappearing this weekend as Bank of the Pacific completes its transition to Banner Bank, ending 55 years of history for an institution founded by local investors and closely associated with the Long Beach Peninsula. Workers began replacing Bank of the Pacific signs with Banner Bank signs this week, providing a visible reminder of a corporate merger that was announced in April and completed Sept. 1. The changeover will be completed Monday, Nov. 16, when Bank of the Pacific customers begin using Banner Bank’s banking systems, online services and branch network. The transaction, initially valued at approximately $177 million, transfers ownership of the Aberdeen-based Pacific Financial Corp., parent company of Bank of the Pacific, to Banner Corp., headquartered in Walla Walla.

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