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Bank of Idaho acquires 5 Washington HomeStreet branches

Business & Money

The following is a news release and photo from Bank of Idaho. Image: Jeff Newgard, Bank of Idaho CEO

IDAHO FALLS — Bank of Idaho has entered into a purchase agreement with Seattle-based HomeStreet, Inc. to acquire an eastern Washington branch network.

Bank of Idaho will extend its branch footprint by acquiring five branches in Spokane, Kennewick, Dayton, Yakima and Sunnyside. Homestreet will
continue to operate dozens of branches across the western U.S.

“Bank of Idaho’s roots serving communities across the Western landscape make it a perfect fit in eastern Washington,” said Bank of Idaho President and CEO Jeff Newgard. “We’ll do everything we can to ensure that our new Washington-based customers will experience great service, enhanced opportunity and dedication to community that Bank of Idaho is known for.”

It is anticipated that the transaction will close on or before August 1. Bank of Idaho and HomeStreet are committed to working together to assist clients and meet all customer needs during the transition. No disruption of service will occur.

Bank of Idaho has been a financial fixture in the eastern Idaho community since 1985, when the original location opened in downtown Idaho Falls on the corner of Capital and B Street. Later expanding to include 10 full-service locations, and 4 mortgage offices across Idaho.

Stock for the Bank of Idaho Holding Company opened to public trading on the OTC-QX market under the symbol BOID October 2019. With community growth always a first priority, Bank of Idaho focuses on small businesses and is a leader in SBA lending. For more information, please visit https://www.bankofidaho.com.

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