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Heritage Bank enters Kent market with branch purchase from Charter Private

Post by C.R. Roberts / The News Tribune on April 5, 2011 at 11:36 am with No Comments »
April 5, 2011 2:07 pm

Last time out, Heritage Bank bought another bank. This time, it’s just a branch.

Olympia-based Heritage announced this week that it has acquired the Kent branch of Charter Private Bank. The transaction includes both the physical branch and certain deposits.

“Heritage has had a long history of serving the Pierce, Thurston and Mason County markets,” said Jeff Deuel, Heritage chief operating officer. “We look forward to welcoming the customers at the Kent location and continuing to build our footprint in King County.”

The transaction will likely close by mid-June, and is subject to regulatory approval.

In recent months, Heritage has also acquired the assets of Cowlitz Bank and Tacoma-based Pierce Commercial Bank.

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