Gesa Credit Union in Richland, Wash., has agreed to buy Willamette Valley Bank in Salem, Ore.
Gesa said in a press release that it will pay $43 to $45 a share in cash for the $465 million-asset Willamette Valley. The deal is expected to close in the first half of 2027.
Following the sale, Willamette Valley’s holding company will dissolve, and any remaining assets will be distributed to its stockholders.
Willamette Valley opened in 2000.
“We found people who believe what we believe, that a financial institution exists to support the people and communities it serves,” Don Miller, Gesa’s president and CEO, said in the release. “As a cooperative, Gesa measures itself by what it gives back, and we look forward to bringing that commitment to the Willamette Valley, alongside the local team that has served these communities for a generation.”
Luse Gorman and McQueen Financial Advisors advised Gesa. Alston & Bird and Performance Trust Capital Partners advised Willamette Valley and its holding company.